News

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

June 20, 2017 by Alan Soucy

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.

Continue reading the full article here.