Bitcoin is the beginning, but it’s far from the end. To help you wrap your head around why, we’re taking a deep dive into the world of blockchain. In this series, we’ll go beyond cryptocurrency and hone in on blockchain applications that could reshape medical records, voting machines, video games, and more.
Blockchain. Bitcoin. Familiar, yet still confusing terms? (You don’t have to answer out loud.) But if you’re like me, you nodded your head and silently answered “yes.” Even though I am not a techie, I want to understand and use technology. I want to know enough to ask smart questions, think creatively, and recognize potential opportunities. So, whether you have the title of leader after your name or whether you are a person like me who values the benefits technology brings to business, this website is for both of us.
Digital Trends was founded in 2006 “to solve a major problem: How do we introduce people to the world of technology in a way that is fun and welcoming, not intimidating and snarky?” In other words, technology for dummies.
“Blockchain Beyond Bitcoin” is a seven-part series. The introduction sets the tone:
“Everyone’s talking about bitcoin, but don’t let the cryptocurrency zeitgeist fool you. The real revolution isn’t bitcoin itself, but the technology behind it. This technology, known as blockchain, is more than a passing fad. As Harvard Business Review puts it, blockchain is a ‘foundational technology’ that ‘has the potential to create new foundations for our economic and social systems.’”
The first article by Jon Martindale explains blockchain:
“It’s effectively a database that’s validated by a wider community, rather than a central authority. It’s a collection of records that a crowd oversees and maintains, rather than relying on a single entity, like a bank or government, which most likely hosts data on a particular server. Of course, a physical database kept on paper could never be managed by tens of thousands of peers. That’s where computers, and the internet, come in.
Each “block” represents a number of transactional records, and the “chain” component links them all together with a hash function. As records are created, they are confirmed by a distributed network of computers and paired up with the previous entry in the chain, thereby creating a chain of blocks, or a blockchain.
The entire blockchain is retained on this large network of computers, meaning that no one person has control over its history. That’s an important component, because it certifies everything that has happened in the chain prior, and it means that no one person can go back and change things. It makes the blockchain a public ledger that cannot be easily tampered with, giving it a built-in layer of protection that isn’t possible with a standard, centralized database of information.”
The series then explores blockchain’s potential uses in government, health care, online advertising, global supply chains, and gaming.
Understanding technology is vital for anyone working in today’s business world. This is an easy way to get started.
Contact us and we can help you use technology to better communicate and collaborate in the workplace. (We have many consultants who love to get “geeky.”)
Read the full article at: www.digitaltrends.com