This Blockchain Thing Is Really Happening, Time To Learn What It Is: 2016 In Review
Blockchain technology was developed for the bitcoin virtual currency, but increasingly it’s being used to track and authenticate all kinds of assets, from stocks and bonds to electrons. Decentralized digital ledger technology—where information is stored in a shared and synchronized way amid hundreds of computers, instead of on a single server—could revolutionize several sectors of the economy. In case you’re still scratching your head, don’t worry, many parts of our current internet technology also seemed totally alien before we fully adopted them. Here’s an excerpt from our longer explainer on how the blockchain works: A blockchain is a ledger of digital events with no central database. It runs simultaneously across thousands of computers, distributing the record across the world. The blockchain is like a collective brain that no one controls and everyone can view. It’s both public and private. As a user, you encrypt your personal information, only allowing that data to be revealed when you make a transaction, such as when you transfer bitcoin to another person. But currency isn’t the only thing you can deal in. You can also store and transfer digital assets such as stocks, bonds, and airline miles. You can create digital IDs, allowing you… Read the rest of the story at This Blockchain Thing Is Really Happening, Time To Learn What It Is: 2016 In Review
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