In summer 2018 bitcoin gained a huge popularity and media coverage, this attracted a lot of speculators that pushed its value to over 20000$, in the couple of months from the peak it feel down to 3000$. Many skeptics such as Warren Buffet were more than sure that it was just a rich quick scheme and its value would have reached 0$ sooner or later. The negative trend ended after 6 months and at the time of writing this thesis the value raised up to 9000$ again. Few years ago it would have been impossible to imagine that piece of digital code not controlled by any government could even reach these values.
Amazon at its early stages was as well victim of the same skepticisms, Its value raised up to 110$ per share, and after the dot-com bubble popped it feel down to 10 (91% drawdown). Today Amazon is worth more than 1300$ per share. The total cryptocurrencies’s combined market cap reached almost 1.000.000.000.000$ (1 Trillion) at bubble peak. At the time that I am writing this chapter it is almost approaching 300.000.000.000$ on positive trend, after the bubble popped. Considerable amount o trust is given to the market, even if now is more than clear that investing in it would not get people rich quickly by any chance.
Consistently with the assumptions explained above, the first objective of this thesis is to extremely simplify the basic concepts behind blockchain for everybody really to understand how it works and how it could impact society for the better. Secondly it will analyse all the different possibilities and technological features that the discovery of blockchain lead to. To connect these abstract concepts to reality I will take advantage of my personal experience at Euklid as an Intern.
Later by explaining the Tangle network and its features I will try to make the reader grasp how the possible blockchain’s varieties can be the perfect base ground were to build the Industry 4.0 form. Considering the Tangle in specific I will analyse how it could possibly power the Internet of Things.
Finally, by placing those incremental changes in historical perspective considering the past industrial revolutions, I will make data-based predictions on how those technologies will impact the major subject’s group we studied during the Business & Economics degree course.