On Halloween 2008, just over a month after global financial crisis began on September 29, a person, or group of persons published a research paper called “Bitcoin: A Peer-to-Peer Electronic Cash System”, using the name Satoshi Nakamoto. The research paper demonstrated how a digital payment system without any form of central control could be mounted on an uncrackable publicly distributed ledger system known as blockchain. Less than three months later, it was released as open source software and Nakamoto’s invention became a reality.

Called a “cryptocurrency”, Bitcoin operates without administrators or a central repository of funds. It can be exchanged for goods and services or converted to other forms of money such as a national currency. It functions as real money in both legal and black markets around the world. According to a 2017 study conducted by Cambridge University, upwards of 5.8million people use cryptocurrencies, the vast majority of which are bitcoin users.

Bitcoin was not the first electronic currency. At one time, the Internet was littered with the busted shells of broken alternative currencies such as Flooz and Beenz. The difference between bitcoin and its many failed predecessors was the complex yet elegant simplicity of the blockchain. At the end of 2010, one bitcoin was worth about $0.18 US. Six months later, on the fourth of July 2011, that same bitcoin was trading at $13.86USD. Six years later, the value of that same bitcoin has skyrocketed to $2664.88USD, surpassing gold as a means of storing wealth in a commodity that accrues in value. That value is found, stored, and easily confirmed in its blockchain.

A blockchain is a mathematical formula that facilitates online transactions by recording the values of those transactions in blocks in a decentralized ledger. That ledger cannot be altered or changed retroactively without first altering all other blocks in a chain. This function lets all participants in that transaction verify and audit the process instantly with very little expense. The chain of blocks (or recorded transactions) can be audited and verified by anyone examining the chain, leaving virtually no room for uncertainty regarding the honesty of data. Because each block contains the value of the previous block, a chain that conforms to itself is known to be unbroken and thus an accurate record of X number of transactions. While larger or more complicated transactions might involve a larger number of blocks, the basic structure is elegantly simple. Blockchains are now used in virtually every complex measurement of transactional value from banking to insurance to military and industrial procurement.

Blockchains are also used to store and verify all other forms of data, including the personally identifiable information we all share freely on social media that frightens contemporary privacy advocates with its abuse and availability. Again, because they are encrypted and virtually impossible to break, blockchains are more trustworthy than a database of user information would otherwise be. Several blockchain experts, including Canada’s visionary Don Tapscott, believe blockchains will soon flatten government and corporate bureaucracies and allow individuals far greater control determining how much of their personal information is used by third parties.

To suggest bitcoin will change small to larger scale businesses is stretching the evidence to fit a supposition however to suggest blockchain will fundamentally alter the way we keep record of transactions and value is a kin to suggesting a fish swims better in water. While your business might want to establish a bitcoin wallet in order to allow your clients to use this highly popular currency, there is always the chance that bitcoin will fail as a long term currency. In terms of business, what we count is constantly changing but how we count those items rarely changes. Bitcoin represents what we count but the blockchain revolution represents the most fundamental change in how we count since the invention of zero. Canadian businesses and entrepreneurs are urged to learn more about blockchain as it will have a far greater affect on business than virtually any other common factor in the coming future.

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The Numbers Game of Networking

18 King Street East Suite 1400
Toronto, Ontario
M5C 1C4 Canada
416-574-1112

18 King Street East Suite 1400
Toronto, Ontario
Canada M5C 1C4
416-574-1112

Site Designed By Giant Shoe Creative.

Our Amenities

We are by far the most experienced and best coworking team in the market – established in 1980

We are the highest Tech centre in the market

We have a very modern, high quality, brand new facility located at:

18 King Street East, Suite 1400

Toronto, Ontario M5C 1C4 Canada

- 18 King Street East is a boutique Class A building – East of Yonge: easy street parking, less traffic, excellent restaurants and lovely parks – St. James Park @ Church & King and Berczy Park @ Wellington East, Scott and Front Streets – Very high energy and engaging area
- A few steps (a few seconds) to the Yonge Street subway/underground PATH network and streetcar available outside building
- Building is located in Toronto's vibrant financial district
- Plenty of parking available in the area including street parking and reserved parking in the 18 King building
- Adjacent to the building huge outdoor food courtyard - Beer Bistro www.beerbistro.com and Craft Beer Market www.craftbeermamrket.ca restaurants and bars with onsite catering services
- Onsite amenities: Tim Horton's, Beer Bistro, Convenience store and Starbucks across the street
- Nearby amenities: underground PATH network, numerous restaurants, banking, Starbucks plus a wide array of nearby shops and services
- New modernized office layout fully furnished with meeting spaces and training rooms plus café lounge area
- We are leaders in the service of training/meeting rooms with full conference facilities, high quality hot and cold catering
- Largest training room and conference facilities accommodate up to 60 people classroom style
- Ultra-high-speed - 1 GIG pipe = 1,000 x 1000 fiber-optic network, which will deliver internet connection speeds faster than most North American services
- Private shower room
- Indoor Reserved Parking at the current building rental rate
- Bicycle parking
- Rent a space to accommodate your team for meetings, training sessions, corporate events or coworking space or flexible office space for one day, one week, one month or one year, or whatever term suits your business
- Telsec has over 650 locations in 40 different countries worldwide available for their clients. Office clients receive up to 8 hours of meeting space per month at no charge at any ABCN member location. Plus, Office and Virtual Office clients may rent a space from any member location at special member rates which varies depending on the location
- King Edward Hotel is located across the street - recently completed a $40 million renovation and boutique hotels close by within walking distance

Dining and entertainment at high quality restaurants only minutes away – Carisma, Terroni, Woods Restaurant & Bar and Michelin Rated - Restaurant 20 Victoria. Plus numerous lunch and takeout eateries nearby

Please check out our 70 second video on our home page or click here:

Take a look at our facilities www.telsec.net

Telsec will Customize Your Client’s Office(s) Layout to Meet Their Requirements.

You are welcome to drop-in any-time, a quick call would be appreciated to ensure our availability Vanessa 416-574-1112 or Josie 416-606-4349 or e-mail josie@telsec.net.

Bitcoin, Blockchain, and Your Business

Looking to Learn More?

The Numbers Game of Networking

Five Very Short Stories about Very Big Data

Bitcoin, Blockchain, and Your Business

Looking to Learn More?

The Numbers Game of Networking

Five Very Short Stories about Very Big Data

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