Blockchain Part 1

By cili.toth18 | Updated: Sept. 3, 2024, 2:09 a.m.

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Could it be useful for your company?
Have you ever wondered what Blockchain is?
Let's find out!
"Blockchain is a technology which can generate trust."
"By using the technology, all participants would have one single source of truth."
- Adri Wischmann
If you have a problem, only adding Blockchain is NOT going to solve it.
Is there more than 1 party involved in your business?
Are your partners untrustworthy?
Is there an incentive for the parties to cheat?
BUT
Did you answer all 3 questions with a 'Yes'?
Then you should keep watching this video!
Blockchain is...
1. Decentralised 
2. Immutable 
3. Transparent 
4. Cryptographically         secure 
But what does that mean?
Decentralised
Information is not stored in one place.

Information is stored in lots of places.

Immutable
Once the information is stored, you can never edit or delete it.

This makes the information trustworthy.
So you cannot alter reality.
Transparent
All the involved parties can see all the transactions on the Blockchain.
Cryptographically 
secure
The information which is stored can never be changed.
That is secured by cryptographical algorithms.
If you are still unsure whether Blockchain is for you, let's take a look at some examples!
Blockchain is applicable on multiple levels.
Internally: 
among departments.
Example: 
monitoring how budget is spent.
Result: 
transparency & no 'shady' transactions.
On a micro level

Blockchain Part 1

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