Blockchain is a sequential database that records online transactions, which can never be modified due to its encrypted and distributed nature. In plain English, that means it’s a system that doesn’t need centralised authority to track interactions, the way a currency requires a central bank.
The best known blockchain product is bitcoin. But there have been some other stranger uses.
There’s Whoppercoin, a blockchain-based rewards programme from Burger King in Russia. There’s Dentacoin, a cryptocurrency to help dentists and patients share medical records, trade products and pay for procedures.
And there’s Potcoin, a cryptocurrency for the cannabis community, best known for sponsoring Dennis Rodman’s trip to North Korea. But it’s not just dentists and dope-fiends that should take an interest in blockchain.
Po.et is a company that hopes to use the power of blockchain to support the troubled media industry. It has pedigree from the world of publishing; its new CEO is Jarrod Dicker, previously the vice-president of innovation and commercial strategy at The Washington Post. Read more from independent.ie…
thumbnail courtesy of www.independent.ie