What is Bitcoin?

Bitcoin is an example of a blockchain.  In fact, Bitcoin was the first blockchain ever created.  The blockchain is a revolutionary type of database that is starting to change the world. 

With a blockchain like Bitcoin, anyone can send value (digital currency) to anyone else... without having to trust the other person or anyone in between.

It may surprise you to learn that Bitcoin is not the only blockchain in existence.  In fact, there are hundreds of different blockchains around the world operating at this very moment.  

These blockchains, along with hundreds of startup companies and thousands of developers (programmers) are working day and night to change our world.  The next technological revolution is already upon us and it's not too late to be early.

At HatRack our bold prediction is that, over the next decade, the blockchain will do to banks what Amazon did to bookstores... and we think that's only the beginning.

Imagine if you had a chance to be part of Amazon in 1994...

If you'd like to learn more about this revolution-in-progress, please click here.

What is Ethereum?

At its core, Ethereum is a blockchain like Bitcoin.  However, Ethereum is a 'second generation' blockchain with advanced features, faster transaction times, and an impressive development roadmap.  

In addition to the simple task of transferring value between accounts, Ethereum offers a 'Turing complete' programming layer to enable "smart contracts".

Smart Contracts allow anyone to write a new program and deploy it on the Ethereum blockchain.  Think of this like an "app store" for the blockchain. 

If you want to create a new blockchain project, you can do that on Ethereum without having to build a brand new blockchain first.  Think of it like using an Uber instead of building your own car.  Because of this, programmers and startups have flocked to the Ethereum ecosystem to create new projects. 

Impressively, 40 out of the 100 most valuable blockchain projects (by market cap) are built upon the Ethereum platform.  

Beyond Bitcoin and Ethereum, there are hundreds of blockchains in existence today.  All have their own unique characteristics, advantages, and drawbacks.  

If you'd like to learn more about this revolution-in-progress, please click here.

Why does it matter?

At first glance, it would seem that sending money from one person to another is easy.  After all, we have banks and checkbooks, debit cards, paypal, and wire transfers.  But consider that the rest of the world is not always so fortunate.  Today over two billion people worldwide have no access to the global financial system, and many others live under oppressive regimes or transact in unstable currencies. 

There are untold examples of bank failures and currency collapse around the world and throughout time (and nearly our own not so long ago).  For countless generations we have had two choices:

1. keep our money in cash or valuables (relatively safe, but hard to use)
2. keep our money in the bank (easy to use, but slow and out of our control)

For the first time in all of human history, we have a third option.  Blockchain technologies like Bitcoin and Ethereum allow you to maintain complete control over your funds AND safely transact with anyone around the world, almost instantly. 

The Internet liberated information; the blockchain will liberate money... and that's only the beginning. 

At HatRack, we believe that money is just the first app on the blockchain.

Click here or scroll down to learn more.

Our Story

Here's some more information about Dave Thompson, the Founder of HatRack:

Dave bought his first Bitcoin in September of 2014 at the modest cost of $475.34 and he was hooked.  He began researching the technology behind Bitcoin to understand how it allowed tracking of financial assets without any centralized bank or trusted 3rd party.  Dave came to understand the power of the blockchain to disrupt the technology and financial sectors and came to view the blockchain as the next technology revolution of our time.  Today, there are hundreds of startups and thousands of developers (programmers) around the globe working on blockchain solutions and the Cryptocurrency sector has grown to be worth over 500 Billion Dollars. 

Since that first Bitcoin, Dave has dabbled in Cryptocurrency day trading, built and run a successful Ethereum mining operation, invested in blockchain startups and Initial Coin Offerings, studied blockchain politics, and amassed a body of knowledge of nearly all things crypto.  Dave understands the key players and technology that differentiate the more than 1,300 different Cryptocurrencies on the market today.

Dave has more than 20 years of experience in the IT industry.  By day, he's a successful consultant focused on large-scale enterprise architecture.  On nights and weekends, Dave reads ‘whitepapers’, reviews developer meet-ups, and keeps a watchful eye on the Cryptocurrency charts. 

With the recent rise in popularity of Cryptocurrencies, Dave has decided to share his knowledge and experience with others.  Hatrack specializes in Blockchain Education and Consulting.  If you are interested in learning about Blockchain technology for your career, your company, or your investing future, we can help.  Hatrack does not offer investments, "systems", or any get-rich-quick schemes.  We believe that any investment in blockchain technology (either your time or your money) carries risk and that understanding the technology is critical to making wise decisions. 

If you're interested in learning more, please contact us (we love talking about this stuff!)