How can blockchain technology help Kabylia?
Starting from 2008, the year that has seen the beginning of a new era, when it comes to the world of technologies, mainly the birth of Blockchin technology. In fact, everything started with a man, woman or maybe a group of individuals under the pseudonym of Satushi Nakamoto, who in 2008 published a white paper entitled, Bitcoin: A Peer-to-Peer Electronic Cash System. Where he basically explained how bitcoin is working also, a rethink of the meaning of money globally.
In this article, we will not go deep into explaining the blockchain technology, as it is a vast subject with different and numerous areas of study. However, we can bring a slight light to this technology that is revolutionizing the world on every level. It is defined as a decentralized and distributed ledger that records the provenance of digital assets. Explicitly, it is decentralized because there is not only one entity that holds one copy of the ledger or the transactions history, for example, if we take Amazon Web Services, it is clear that there is only Amazon that has access and mange all the servers, same with Facebook or Twitter and so on. Nonetheless, with blockchain there is not one server, there are thousands of copies of the same server distributed around the world and that is why it is called distributed ledger. Bear in mind that these servers are called Nodes.
It is highly important to understand that blockchain and bitcoin are not the same. Meaning that blockchain is the technology itself while bitcoin is a cryptocurrency that is built on blockchain. There are plenty of areas where this technology can be implemented such as: environment, agriculture, health, transportation and many others. But, the area that interests us is cryptocurrency. So what is a cryptocurrency? it is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Now, if Kabylia gets its own cryptocurrency how will this impact its people in Kabylia or worldwide ? Lets start by saying there is no doubt that most of Kabylians living in Kabylia, not abroad, don’t have access to the banking system, for different reasons. This makes it impossible for them to make transfers locally or internationally. However, with a cryptocurrency that runs on a specific platform like, Ethereum, NEO, EOS or waves, there will be no problem whatsoever for Kabylians living abroad sending money to Kabylia and vice versa.
This kabylian cryptocurrency will have all the properties of a bank account but with more freedom and no restrictions using it. Every person will be the manager of its own account, no middle man will interfere at all. As it is built on the blockchain, the transactions will get settled within ten seconds, no more. As an illustration, if someone wants to send the Kabylian cryptocurrency from France to Kabylia, that would take 10 seconds. Moreover, every seller and merchant, if they accept the cryptocurrency, can sell and buy their needs too. In brief, it can be used just like any money on this earth.