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Gold/Mining/Energy : Chesapeake Gold (CKG.V)
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To: ItsAllCyclical who wrote (7785)6/28/2019 5:15:09 PM
From: Claude Cormier   of 7832
 
First, I would not compare the blockchain to the web. The blockchain is comparable to a decentralized ledger or database that resides on the web.

Second, the coins (when they exist) becomes an asset for its owner because it has value. The coin becomes and incentive to make the blockchain better.

Having a value it becomes possible to take a portion of it as a fee to use the blockchain.

For many blockchains, the cost of transaction is very small fee. In some case a fraction of a cent to make a payment or post a transaction. So that is not deterrent to use blockchain. The fee is proportional to the size of the transaction.

The fees that are collected per transactions are used for a few things, including, paying small rewards to those nodes who maintain the consensus protocol of the blockchain, building a standalone treasury so the blockchain can be maintained over the years and decades ahead and be self-sustainable.

Existing providers??? Not sure what you mean. Current providers are the network companies and web hosts. They will continue to lease the access to the net that they provide.

FB and JPM can do what they want. It is a free world I hope.

Not all is the cuurent reality in that video. The crypto word is changing rapdily. But you will find it very interesting I am sure.
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