BITCOIN & BLOCKCHAIN ~ WHAT IS IT & WHAT YOU NEED TO KNOW

P2P with block chain and strong encryption is a great idea, but it's not without it's flaws and challenges. First of all is the block chain itself...updating a substantial system with billions of users will present huge computing issues and long transaction times that might be less than desirable. With strong encryption, unless there is some sort of biometric interface, a wallet could fall into someone else hands, or you might lose you key and forever lose your coins. If there's a bug that develops in the system, who will administrate the fix? And if a new private or public block chain is developed, how would you know if the developer didn't include a back door?




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