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On the 17th of May, we were invited to speak about Blockchain and Crypto at an event by Ondernemen in Bedrijf and Pakhuis met Pit. During this day we shared an advanced workshop on Blockchain and Crypto. The main topic that we spoke about was “The impact of Blockchain”, Ondernemen in Bedrijf has hosted multiple sessions about Blockchain and Crypto at different locations in the Netherlands. According to several specialists, Blockchain will change the world like the Internet has done.
There is a lot being written about blockchains, bitcoin, and related technologies, and for many real estate professionals, this is part of a brave, new, confusing world of technology. Like the original internet, the blockchain is a revolution in technology that will touch all people and all businesses. So people are paying attention, but many still don’t understand what the blockchain is.
Imagine that you and your best friend Bob are standing on a stage in an auditorium, and there are 1,000 people in the audience. In front of these 1,000 people, you hand your car keys to Bob, and Bob hands you his watch. You declare, “Bob, you now own my car.”
Bob declares back to you, “You now own my watch.” There are 1,000 witnesses who can each declare, without doubt, that your car now belongs to Bob, and the watch belongs to you. If anyone in the audience later tells a conflicting account of who owns the car or the watch, the other 999 people will refute it. And, if you take a spare set of your keys and try to give that same car to someone else, the 1,000 audience members will confirm that Bob owns the car, as each of them witnessed the “transaction.” This is the essence of how the blockchain works.