Open commentary on everything impacting the U.S. housing economy. The opinions expressed here represent the author’s alone.

Blockchain is a powerful new technology, but since it isn’t mainstream yet, it may be difficult to justify to your boss, who still unsure about a blockchain strategy. At Factom, we field lots of questions about blockchain’s practicality and usefulness for different industries. These questions below are some of the ones we see the most often.

These may be things your boss wants to know about blockchain, or even things you want your boss to understand better. Blockchain is a shared ledger that is managed by a large network of computers, rather than one central party.

And we need it! This is a simplified question, but we see it often, especially in regard to how it differs from a database.

Because the data inside a blockchain is not managed or owned by a central party (in the way a database is), it is extremely difficult to alter. A hacker would need to take control of 51% of the nodes running the blockchain, which is increasingly more difficult the larger the network becomes. Read more from housingwire.com…

thumbnail courtesy of housingwire.com