Blockchain as the new internet

Image: www.blockgeeks.com

 

Although nobody really knows who is the person or group behind the pseudonym Satoshi Nakamoto, the inventor of blockchain, his invention is revolutionary. 


It was designed to implement the digital currency Bitcoin, but soon people realized that a technology that allows data to be distributed but not copied could be used to level up the internet.  


According to Don & Alex Tapscott, authors Blockchain Revolution (2016): “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.”  


The most interesting feature of blockchain is that it keeps the records public and easy verifiable, hosted by millions of computers, without a central information storage for a hacker to corrupt.  


It is like two people accessing one document in Google Docs, they both have access to the same document at the same time. The concept is the same, but instead of a shared 
ledger, it is a shared file. But as blockchain is a distributed ledger, it can be accessed by any number of people. So, we could just distribute all business documents, instead of passing them everytime a change is made. And that is only one idea of the power hidden inside blockchain. 

 

 

Nobiletec is a multi-national consultancy firm specializes in B2B, B2C and P2P FinTech solutions.

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