You’ve probably heard that blockchain technology is going to revolutionize… fill in the blank. But what actually is it and how is it going to disrupt these industries? In simplest terms, blockchain refers to a decentralized database.
If you think of a traditional database like a spreadsheet, running on a single computer, blockchain distributes that so the spreadsheet runs on millions and millions of computers. It also uses state of the art cryptography, so that once information goes in, it is virtually impossible to get it out again without the original passcode or key.
Author: Bernard Marr