BLOCKCHAIN explained in ONE word

Ok, here we go. The word is TRUST. You won't need that anymore.

Whether you're buying a house, hiring an employee or choosing a partner for your business - don't trust noone! You just don't have to. 

The very digital environment in which all those things are done protects you from fraud. How? With the help of a new type of agreement called the "smart contract". 

Smart contracts are conducted between all parties and are kept in a blockchain forever. Smart contracts are just pieces of code that control the fullfilment of obligations. Your money is not paid until the obligation is fulfilled. And vice versa, if the obligation is fulfilled, the money is paid automatically.

You can regard this as outsourcing of trust. You don't spend time and money on verifying counterparties anymore. You can afford not trusting them and still doing business with them. The blockchains will become your providers of trust!

Now try to imagine the impact of this technology. There will be literally no boundaries for conducting business. 

Today we already live in a world where distances matter less. All sorts of communication, remote management tools and faster travel help you scale up your presence.

During the Blockchain revolution honest behaviour in business and in life will become inevitable - perhaps for the first time in human history. Such things as political instability, corruption and even cybercrime will matter less and less should you decide to enter a third world market. You'll be protected by blockchains.

And remember, If we're on a blockchain, don't trust me. I won't let you down anyway.