Bitcoin, Open Source Data

Bitcoin is not only open source software, it’s equally open source data

Up until now, most of the world’s important data has been behind closed walls, with some small exceptions, like open government data. Open data has been very limited, and even if available, is not real time. Data today is not available openly, specially for really critical things we value. Most of our valuable data is closed source, behind walls with limited access, things like social media data, financial transaction data, or any other utility data are all closed source. We have no easy way to access it. Even though it affects are lives a lot everyday.

Bitcoin is the game changer to this paradigm. Bitcoin is highly open, valuable, real time, and large. It can be accessed by anyone with an internet connection. Bitcoin’s open network and ledger serves data that anyone can easily access, use, and build cool things on top of. Bitcoin is not only an open source software, it’s equally open source data.

Bitcoin data includes information like transaction data (value, fee, time, and more), block data (block size and more), mining data (hash rate). A lot potential applications are possible using this kind of information.

We not only can develop on the Bitcoin network and protocol, but we can also develop applications on the Bitcoin data. Bitcoin open sources information of our value exchange. For the first time in history, we all have a transparent bank, which we all have access to. Data mining will enhance the Bitcoin network, like it’s inherent mining system does.