Altcoins are alternative cryptocurrencies to the bitcoin. The bitcoin has established itself as the first cryptocurrency and also the one that dominates the cryptocurrency market. There are other cryptocurrencies such as ethereum and litecoin. We now have more than seven hundred altcoins and the list is growing. Anyone can come up with their own cryptocurrency because they are all built on top of the same blockchain protocol. Having your own cryptocurrency on the blockchain is the same as having your own blog on the internet protocol. But who will use all these cryptocurrencies? It’s like asking, who will read all these blogs? The cryptocurrency which solves the most problems for the most people will take a bigger share of the market. With fiat currencies, you need certain currencies for certain transactions. For example, everyone needs US dollars for importing crude oil from oil-producing countries. People will need particular cryptocurrencies for specific transactions. The competition will push the most relevant altcoins to the top. Some will die a natural death just like some fiat currencies. Remember there are fiat currency wars so also cryptocurrency wars. So far bitcoin is leading the cryptocurrencies pack but the industry is evolving on a daily basis.
A crypto currency is an encrypted digital currency on a decentralised blockchain network. It exists only as a digital currency and has no physical counterpart. A crypto currency is generated as an incentive for validating transactions on a blockchain after consensus. Encryption is used to protect ownership of the crypto currency. It is also used to maintain trust.
The euphoria associated with the departure of Robert Mugabe after 37 years as president of Zimbabwe must now translate into real work to make our country great again. The hard work begins today. Zimbabwe must never be held to ransom by a few individuals in Zanu-PF again. The new leadership going forward must be guided by our constitutional democracy. Rule of law is hard work but it is the only way to avoid a dictatorship. The multi pronged approach to ouster of Robert Mugabe included the military, the people, and parliament. The army had been captured by Robert Mugabe through a patronage system but turned against him when they felt threatened. The people are not naive to this fact but we have to be pragmatic and politically mature. We have an institutional framework which worked to force Mugabe to resign. Now we should our institutions for building the state of Zimbabwe. We pride ourselves as one of the most educated countries in Africa but our education has not translated into economic prosperity. This is the time to put our education to good use. Think about how you can make a positive contribution at a personal level. The future belongs to those who create it. #MakeZimbabweGreatAgain
It is tempting to want to follow all sorts of people on social media. You always think there’s something to gain from it. The truth is that there is something to gain. You expand your horizons. The problem is that we are now exposed to too many sources of valuable knowledge. We can be easily turned to consumers of content. I have listened to so many audio books and podcasts and they are all very brilliant. The problem is that there is not enough time to consume every piece of good content. Not enough time. Too much of the brilliant content becomes digital noise. So how do you filter out the noise? I think the best way to filter out the increasing noise is open a conversation with people you can provide value to. If there is direct communication then I think you can produce targeted content which helps actual people. So with this article, I hope to be able to respond to specific questions in the comments section.
Can the blockchain resurrect dead capital? The major cause of global inequality of income and of capital is due to financial exclusion. Money is a social construct. We have created a financial system which abuses the currency of trust to marginalise a big chunk of the global population. About 2 billion people are unbanked. They are outside the financial system. The majority of those who are included in global finance, are enslaved through debt. Why is a mortgage a 25 year agreement? To keep people working until their 50s and 60s. But the mortgage is not the only debt. We have car loans, personal loans, credit cards etc. Money is debt. It is the incentive to keep people doing the jobs they don’t like. The blockchain promises to disrupt the global Ponzi schemes run by central banks and governments. Each person becomes a bank through a decentralised app on their smartphone. The bitcoin and other crypto currencies are bringing down the walls of traditional banks, symbols of global inequality of income and of capital. Blockchain applications such as steemit.com and dtube.com are rewarding its users for the interactions they make on these platforms. More applications are being built in every sector of economic growth and development. In education we have AcademyCoin. You can find their white paper on their website. The blockchain promises to unlock dead capital.