I feel like I’m super late in the game on learning about blockchain, cryptocurrencies & bitcoin etc. Until recently, I only heard about it and never understood how it all works. So I decided to educate myself.
Other than learning from friends, I started by watching a whole bunch of YouTube “Blockchain For Dummies” videos and reading a lot of articles. Some explained it better than others:
- As an absolute newbie, I really appreciate how it is explained in this 18 minute video: Blockchain Expert Explains the Concept In 5 Levels of Complexity. First the expert explains it to a child, then to a pre-teen, then to a college student. When she gets to a grad student and finally an expert, she gets them to explain it. I love this style of teaching a complex idea.
- I delved deeper into the concepts by watching this 26 minute video: Ever wonder how bitcoin (and other cryptocurrencies) actually work?
- This article was really interesting and comprehensive: How to trade cryptocurrency – a beginner’s guide: Learn everything you need to know before you start trading bitcoin, Ethereum or any other cryptocurrency.
- Just watched Banking On Bitcoin, a 90 minute documentary on Netflix. It was a little dry but fascinating to learn about the history of bitcoin: the pioneers, its underground development and it’s challenges in getting mainstream adoption (e.g. it’s portrayal by the media, it’s reputation for criminal activity, hackers and regulation.) I recommend watching this only after you have a fair understanding of blockchain and cryptocurrencies. You can see the trailer here.
- Blockchain technology isn’t just about financial currency. Since the technology allows for shared data to be transparent, democratic, decentralized, and secure, there is so much potential for industries such as Supply Chain Management, Forecasting, Medicine, Pharmaceutical, Insurance, Transport, Charity, Voting, Healthcare, Energy Management, Retail, Real Estate. The possibilities are endless. 19 Industries The Blockchain Will Disrupt
- As a musician, I’m intrigued by how blockchain could be a game changer for the music industry. Here’s a a link to a company called Viberate. Their vision: “To revolutionize the way musicians are presented and booked as well as to open the world of live music to everyone. We intend to do that by decentralizing the discovery and booking processes with the use of the blockchain technology.
I have to admit that I still have a lot to learn. I can now explain some of the concepts around it – not confidently yet. I still have a lot to get my head around. At least I can now say that I understand the basics.
Liz Lulu 