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The Bitcoin Letters: The misconceptions around Blockchain and Bitcoin

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The Bitcoin Letters: The misconceptions around Blockchain and Bitcoin

The Bitcoin Letters aims to help dispel some of the common misconceptions around blockchain

While Bitcoin and Blockchain continue to see wide adoption from businesses and governments across the world, there are still many things that need to be clarified surrounding the technologies. This is the view of Bryan Daugherty, Global Public Policy Director at BSV Blockchain Association, who was speaking on the launch of his latest book – The Bitcoin Letters.

Daugherty explains that he wrote The Bitcoin Letters to help dispel some of the common misconceptions around blockchain, Bitcoin and cryptocurrency. ‘From my work as a Public Policy Director, I have spent a great deal of time educating lawmakers on these technologies, and there seems to be a grand conflation of these terms.’

‘We see quite proficiently within the media and even within the discussion of various legislative pieces that there’s hyperfocus on cryptocurrency rather than this underlying blockchain technology.’

Cryptocurrency perceptions vs blockchain reality

Daugherty explains that a large part of his work is clearing up these misconceptions and helping both government leaders and regulators realise the true potential of blockchain. ‘Over the past year, I’ve met with Congressmen, Senators, and various agencies of the United States government,’ he said.

‘I’ve also met with various other political agencies across the globe, including the EU Parliament and the EU Commission, where I’ve helped to educate lawmakers and policymakers regulators on the difference between blockchain versus cryptocurrency, which is an important difference in respect to how this technology is implemented and used today.’

‘Today’s perception is that cryptocurrency is the winner of the ball as far as technology and digital transformation. The reality is that perception is a little more skewed in the sense that cryptocurrency is just one small benefit and capability of the underlying technology, which is blockchain.’

Daugherty added that blockchain provides the infrastructure that allows governments and businesses to provide more efficiency, better data integrity, and better information security, as well as a way to monetise the web.

He added that one of the other differences is blockchain’s inherent capability to empower other emerging technologies such as artificial intelligence, drones, and sensors. ‘There’s no shortage of smart devices and the proliferation of these types of sensors,’ he said.

‘But we have to make sure that we’re able to ensure their integrity and security, as well as be able to lower data silos for enterprises and government governments to be able to share this data back and forth.’

‘Blockchain really empowers the Internet. It’s very similar to TCP/IP in the sense that it is a protocol that empowers the management or the monetisation as there is no native token for the transfer of value on today’s Internet.’

Buy your copy of The Bitcoin Letters now

The Bitcoin Letters is now available in Kindle ($9.99) and paperback ($19.95) formats on Amazon. But for readers who want to experience the full potential of Web3 technology, there’s an even better option. By downloading the ImmutableBooks.com app, you can purchase the eBook by page, chapter, or in its entirety, using a pay-per-consumption model that only charges you for the content you read.

ImmutableBooks.com is user-friendly and secure, powered by the latest blockchain technology to ensure complete privacy and safety for its users. It’s a revolutionary platform that offers unparalleled transparency, security, and immutability in content distribution.

About Bryan Daugherty

Bryan Daugherty is an accomplished digital transformation specialist with over two decades of experience in enterprise-grade technologies. Daugherty serves as the Global Public Policy Director for an educative, non-profit trade association, where he advises policymakers in over 30 countries, playing a pivotal role in shaping the future of blockchain policy globally.

His area of expertise includes Blockchain Information Security, Cybersecurity, Enterprise Blockchain Integration & Implementation, and Commercial Blockchain Application Development.

Ryan Brothwell

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