Blockchain is the engine beneath the virtual currency Blockchain. Blockchain experts are preparing government agencies and big businesses for what they believe will be one of the most revolutionary technologies of our time.
The technology, which bares resemblance to the file-sharing application Napster, enables people to swap information without an trusted intermediary. Mark Pascall: Blockchain will enable “a world where control moves to the individual.” The most high profile example is the bankless and borderless currency Bitcoin, which is based purely on parties agreeing to the value of the coin. The engine behind Bitcoin is a ledger system called Blockchain. Each time a transaction occurs, a multitude of files or “nodes” throughout the Internet are updated.
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