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Author: Sushil Verma  (Linkedin, Twitter, Git)

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The Blockchain

The Blockchain is a technology!

In this article, I will explain the basic of the blockchain, what blockchain can solve, a distributed ledger, advantages of using blockchain, blockchain durability and robustness etc.

Blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something greater. At date, Blockchain has become a buzzword.

By allowing digital information to be distributed but not copied, Blockchain technology created the backbone of a new type of Internet. Originally used for the digital currency, Bitcoin, the tech community is now finding other potential uses for the blockchain technology.

Bitcoin has been called “Digital Gold,” and for a good reason. To date, the total value of the Bitcoin currency is close to $36 billion US and counting.

And Blockchains can make other types of digital value. Like the Internet (or your car), you don’t need to know how the blockchain works to use it. However, having a basic knowledge of this new technology shows why it’s considered revolutionary. So, we hope you enjoy this, what is Blockchain tour!

What is Blockchain Technology?

Blockchain is an emerging technology that can completely improve Banking, Insurance, Supply-chain, and other Transaction Networks, and creating new opportunities for innovation.

Technically, a blockchain is an immutable, distributed ledger shared by the members of a permissioned network for tracking the secure exchange of business assets. Unlike a Bitcoin-based network, member identities are known and no cryptocurrencies are involved.

What industry leaders say about blockchain?

IBM CEO Rometty about blockchain

IBM CEO Ginni Rometty said that blockchain technology within financial services will be immensely valuable for anything that involves trading illiquid assets.

 

 

What is Blockchain Technology?

“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”Don & Alex Tapscott, authors Blockchain Revolution (2016)

 

 

Bob Greifeld, Chief Executive of NASDAQ

“Blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole.”Bob Greifeld, Chief Executive of NASDAQ

 

 

Robert Sams, founder and chief executive of London-based Clearmatics

“In financial markets there’s always a mechanism to correct an attack. In a blockchain there is no mechanism to correct it — people have to accept it.”Robert Sams, founder and chief executive of London-based Clearmatics

 

 

Marwan Forzley, Founder of Align Commerce

“Blockchain technology has the ability to optimize the global infrastructure to deal with global issues in this space much more efficiently than current systems.” Marwan Forzley, Founder of Align Commerce

 

Blockchain is the world’s leading software platform for digital assets. Offering the largest production blockchain platform in the world, companies are using new technology to build a radically better financial system. Blockchain vendors also offer tools for developers and real time transaction data for users to analyze the burgeoning digital economy.

Blockchain reference links

Blockchain Wiki
IBM Blockchain Servive
Microsoft Blockchain Service
TimesofCloud.com – Blockchain
Basic of Blockchain
Bitcoin
Hyperledger
Github – IBM Blockchain
Ethereum

If you are interested in blockchain technology, then leave your comment!


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