Blockchain is quickly becoming one of the most anticipated technologies of our time. Much like the early internet, experienced technologists foresee blockchain as a vehicle to drive society forward. Implementations of secure, decentralized systems can empower us to conquer organizational issues of trust and security that have plagued our society for generations.
In effect, we can fundamentally disrupt industries core to our economies and social structure, eliminating inefficiency and human error.One of the most exciting and imminent applications of blockchain is with Bitcoin. Though volatile in nature, Bitcoin represents a not so far away future where payments are secure, data-driven, and digital.
Yet, with all the hype and promise surrounding cryptocurrencies, there is still tons of confusion around how exactly to prepare for this revolution. There are many self proclaimed “crypto experts,” as well as fraudulent scammers, who are leveraging the excitement in the space as a means for profit.
Navigating the short term noise in the community can be risk and challenging. Though, if you believe in the long term significance of the technology, then it is well worth the upfront financial and resource investment to familiarize and educate yourself in the space.
Here are 4 ways to ensure you are prepared for the incoming cryptocurrency revolution:
1. Do your own research
Like any other time you are thinking about making an investment, it is best to start with your own research so that you can form your own, unbiased thesis. Especially in a nascent space, like with blockchain, it can be really easy to be inadvertently influenced by others trying to sell you on their own ideas or projects.
Whether you end up analyzing whitepapers or educating yourself on the backend technology, it is important you always investigate who the author is behind the scenes. Everyone has a bias, and while it is not always bad, it is very important you make a mental note of it. It is very easy to get scammed…
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