The real value of bitcoin and crypto currency technology – The Blockchain explained

Bitcoin in five minutes: Blockchain technology will drastically change our lives.

In the coming years, the technology behind crypto currencies such as Bitcoin will inevitably and radically change the role of traditional trusted parties such as banks, accountants, notaries, and governments. The animated video about Bitcoin that was released today on http://bitcoinproperly.org is the first to specifically address the technology behind Bitcoin: the Blockchain. Within five minutes, it is explained how the essential functions of the “trusted third party” can be automatized through the Blockchain as well as what the implications of this are.

From Bitcoin hype to Blockchain revolution: an internet of trust.
With the arrival of crypto currencies such as Bitcoin, everyone around the world can trade with each other without any involvement from traditional third parties such as banks, notaries, accountants, and governments. Trade is a fundamental pillar of our economy and society, and traditional trusted parties play a crucial role in this.

The technology behind Bitcoin making all this possible – the Blockchain – ensures that the essential functions of the “trusted third party’, are fully automatized through the internet. This way, these functions are as freely available, accessible, and programmable as the internet itself.

The animated video, available in both Dutch and English, explains how this works, also mentioning practical applications. The implications are clear: in the coming years, the role of the traditional trusted parties will inevitably and drastically change, strongly impacting our daily lives.

The creators of this animated video invite its viewers to think about and discuss the fundamental and radical innovations made possible by crypto currencies.

Rutger van Zuidam ecommerce entrepreneur and founder of IntoBitcoin.com: “The Netherlands have all the assets to become Europe’s Silicon Valley of financial technology. It is possible for the Netherlands to position itself favourably in comparison to the US and UK, who are currently still ahead. The technology behind crypto currencies like Bitcoin plays an essential role in leveraging these opportunities. We hope that the animated video about the technology behind crypto currencies will positively affect this development.”

Lykle de Vries: ”Bitcoin is not the new money for internet,but it is the new internet for money, value and ownership in all forms. Crypto currencies like Bitcoin are the next step in the emancipation of all world citizens, and can help create a new dynamic for democracy, society and economy.”

About the creators
The animated video is a non-profit initiative by designers Patrick Loonstra (www.patrickloonstra.nl) and Sebas van den Brink (sebasvandenbrink.nl) and entrepreneurs Lykle de Vries (ThesisOne.com) and Rutger van Zuidam (Senanga.net, IntoBitcoin.com).

18 thoughts on “The real value of bitcoin and crypto currency technology – The Blockchain explained”

  1. I’m new to that, but I have understood the basic concepts, except the mining part and the proof of work. BUT I still can’t get…how a part of a bitcoin..which represents a PROPERTY can be equivalent or equal to ???.. casting a VOTE ( A RIGHT ) during an election ??? Who decides that ??

  2. How can each node have a copy of the ledger? Shouldn't an updated ledger propagate through the whole system every time a new transaction completes and thus overwhelm the network?

  3. I just bought 133,999.00 bitcoin shares (BTCS) in the stockmarket. This is the time to buy since the price is really low. In a few years I will be millionaire.

  4. QR CODE SHOPPING CHANNEL

    ThanYou to all the producers of this extremely informative and open minded video. I am finally beginning to see the light. A first step in releasing the stranglehold! Gordon King Welke

  5. all i hear in this video is "huge problem of privacy"

    What about secrecy? what if i want to buy a fcking green cap without the whole world knowing?

  6. Well done introduction in the blockchain topic! Blockchain is like a living organism, evolving over time. What a wonderful time I live in!

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