Posted by & filed under bitcoin, blockchain.

As Sally Davies of the Financial Times explained it, 'blockchain is to bitcoin what the internet is to email. A big electronic system, on top of which you can build applications. Currency is just one.'

 

Digital evangelists believe that the blockchain could revolutionize everything from legal contracts to the way we use the internet.  The trouble is, most people still don’t really know what the blockchain actually is, aside from being associated with the hyped — and volatile — digital currency bitcoin. Given the current cryptocurrency market, that has made blockchain a hot commodity.

Source: CBC News

Date: March 8th, 2018

Link: http://www.cbc.ca/news/technology/bitcoin-blockchain-1.4548864

Discussion

1) “blockchain is to bitcoin what the internet is to email. A big electronic system, on top of which you can build applications. Currency is just one.”  This is a really good description.  What else runs on the internet?

2) What sorts of issues are there when you have a “basic architecture — a tamperproof record of transactions that exists across multiple locations, instead of being stored in a centralized location “?

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