The significant rise in bitcoin prices has recently revived the imagination of many investors, but Blockchain technology is not just about money. In this article we will look at how significant impact this revolutionary technology will have on classic web hosting services.
The concept of cryptocurrency is not rocket science. In fact, this medium of exchange is no more complicated than the traditional currency. However, he needs a secure and trusted environment in which to work, and this is provided by Blockchain.
What is Blockchain? There are many misunderstandings related to it, but for the purposes of this article we will simply define it as a distributed spreadsheet. We are all familiar with Excel or Open Office spreadsheets, but what makes Blockchain so appealing is the way it spreads.
Like the files in Torrent, Blockchain is a peer-to-peer network where there is no need to guarantee trust between the parties. Thanks to modern cryptography, trust is instead maintained at the level of a record, not the host country.
Okay, so now we understand the basics of the cryptocurrency revolution, but how, can we ask, does it affect web hosting services? In essence, in its simplest form, this would involve not only selling your services in local currency, but also in bitcoin and other cryptocurrencies.
However, this is not the end of the revolution. Bitcoin and other digital currencies need e-wallets to function, and thus has huge potential for traditional web hosting providers. If you trust your customers and host their sites, then why not host their e-maids?
Each cryptocurrency transaction is an actual transaction between two electronic maids. Each exchange is maintained through the wallet and you can also provide an interface for access to your clients. This factor is key to fully understanding the impact of Blockchain on your web hosting business.
That said, Blockchain is not just about money. The latest versions of its protocols also provide for the possibility of concluding any form of contract between the parties, whether it is a cable TV subscription or some other type of account. They all need to be stored somewhere and there is room for web hosting companies to participate.
Thus, the portfolio is the key to fully exploiting the potential of Blockchain. Once you understand this, then what should be your next steps?