Man Pays $26 Million Dollars for Pizza Delivery: Why Blockchain Matters to You

In today’s parlance, this headline would probably be considered high quality fake news. It does, however, have some accurate underpinnings and is an eye-opening example of the emerging power of the blockchain and why blockchain matters.

In May of 2010, an early bitcoin supporter named Laszlo posted on a forum an offer to pay 10,000 bitcoins to anyone who would deliver pizza to his Florida home. It took a few days but his offer was accepted and pizza was delivered. At the time, 1,000 BTC was valued at $41. Given the price of a bitcoin as I write this post, if Lazlo spent the same number of bitcoins today for pizza it would have cost him the equivalent of $26,000,000. Quite incredulous.

The majority of people today do not understand what a bitcoin is and even fewer have heard of the blockchain.

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