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Joe takes you on an easy to understand journey of Blockchain technology. Blockchain is the basis of Cryptocurrencies such as Ethereum, Bitcoin etc., however, extends way beyond these as a framework for Smart Contracts.
Blockchain is an emerging way for businesses, industries, and public organizations to almost instantaneously make and verify transactions—streamlining business processes, saving money, and reducing the potential for fraud. At its core, a blockchain is a data structure that’s used to create a digital transaction ledger that, instead of resting with a single provider, is shared among a distributed network of computers.
The result is a more open, transparent, and publicly verifiable system that will fundamentally change the way we think about exchanging value and assets, enforcing contracts, and sharing data across industries. The applications using blockchain are almost limitless, ranging from loans, bonds, and payments to more efficient supply chains to even identity management and verification.