Exciting times — We’re in the middle of a revolution — The invention of Digital Asset
By: Elya Livshitz
Tags: Technology, Revolutionary, Blockchain, Cryptocurrency, Bitcoin

After years of experience in software engineering industry, especially in debugging and reverse-engineering I’ve had to sharpen a specific skill, a skill that detectives must use in a crime scene; the ability to filter the noise and notice the odd. Essentially, investigating a program crash is like investigating a crime scene, you look for clues and try to figure the motives.

This skill comes handy when I observe what’s happening in the world right now.

The rush for crypto-gold.

People rush in with their cash in one hand and dreams of exceeded sudden wealth in the other.

I don’t want to be the party-popper, but you’ve fallen into the hands of a group of people that outsmarted you. And surprising as it may sound, but as soon as you’ll join this vampire club you’ll become just one of them. You’ll soon understand that the only way to get out of this game is to bring someone else in. If you’re lucky enough you’ll get out with your money and maybe with some profit, and if you’re less lucky, you money will eventually be forever gone because someone already took it as his profit. Those are simply the unwritten rules of this game, want it or not.

What I want to point out in this article is that this game is only a delusion and a distraction of what’s really going on.

Bitcoin, Altcoins, bubble, regulations, acceptance, what can you really do with crypto-currency and so no. All those rumbling are the noise.

If you’ll let yourself loosen a bit of your stronghold believes and what you’ve taken as a granted, you’ll be able to see it for yourself.

Bitcoin is an application, just like the Calculator app on your phone.

Blockchain is the amazing device that was sophistically built to make this application possible and tangible.

The invention of this piece of technology, Blockchain, is what enabled the humanity, in the first time of human history, to define and use a Digital Asset.

Until this point in time it was not possible to possess a digital asset in a safe and secure way that you could say confidently “I’m the one and only possessor of this asset”. Blockchain enables this.

This brilliant piece of work combines multiple paradigms and doctrines including computer science, economics and game theory. Mastered in a way that is tamper safe and synchronises multiple parties with incentives to keep their rules.

That allows to uniquely define an asset and it’s single owner.

You cannot copy a digital assent (nope, ctrl-C, ctrl-V won’t work).

You cannot forge or tamper a digital asset.

You don’t need an upper authority to prove it’s yours, we all know it is yours.

No one, including your government, could ever forcley take it away from you.

This is what Blockchain is all about.

This digital-asset, which is essentially an unpredictable unique string composed of special combination of alphanumerics, protected by sophisticated set of rules, can represent anything starting from “nothing”, a penny, a stokehold, a voting right, a house, to even a person.

What can you do with it? Obviously the first and most known implementation is Bitcoin. But you can construct anything that is related to some sort of possession on top of it.

This revolution is the entrance to a new digital era that now enables us to transcend money, contracts, ownership and so on, to this decentralised, tamper proof database.

We are heading to an even more digitalised and electronically-coupled future, which sometimes might seem scary but unleashes endless possibilities.

We almost missed it if not for those greedy people that thought to put their money in Bitcoin and started to pump it up and talk about it, and essentially made some noise. Without them that platform wouldn’t been put in actual use, no one would talk about it and it could end up buried in the open source graveyard.