MGT Capital recently made the announcement regarding their entry into the field of cryptocurrency mining. Human civilization experienced massive innovations throughout its course. One such significant innovation was adopting agricultural measures. Before adopting the same, leaders of aboriginal tribes used to be on the constant move looking out for food. They also had a hard time thinking of ways to limit the number of their village population to sustain with the limited food resources. Such leaders could never imagine staying at a permanent place without dismantling their shelters when food fell short. But it’s all a sheer reality now.
John McAfee of MGT Capital feels that the Blockchain Technology will change human civilization is a way which even agriculture shall stagger to keep pace with. The idea of decentralization has been much talked about for dozens of years but no true potential benefit has been reaped out of the same. The main reason behind it is that none has yet been able to unearth the solution to distribution which is a prerequisite of running the decentralized system. Such distributed systems have the power of toppling traditional centralized procedures. The distributed ledger system powered by Blockchain technology which no supreme maintaining authority but worldwide accessibility is the tool which holds the power to change the face of global civilization.
The ones who properly understand the functioning of this digital currency form are becoming extensive users of this cryptocurrency as a transaction media. Some people are terming the recent surge in Bitcoin prices following its 1st August hard fork as a bubble but in reality it is simply the systematic and predictable devaluation of fiat currencies which is bound to become an ongoing phenomenon with periodic ups and downs unless the value of such fiat currencies reach ground zero.
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