Bitcoin is only the beginning…
Despite some companies gaining massive stock surges simply for putting “blockchain” in their name, this technology is changing life.
Simply put, Blockchain is a public ledger, with blocks of info chained together by cryptographic links. It records transactions and metadata between parties and decentralizes that data using what’s called the Byzantine fault tolerance at a high rate.
Basically, its data contained in modules that are made public and linked together. So the data isn’t public, but the module (or block) is. Like car titles having a paper trail of ownership.
Facebook has been under fire recently- or at most, slightly beleaguered- for their lack of securing our data, and selling it off to political organizations.
But they’ve since announced investments in the blockchain process that could help them secure our info. So Russian bots would be quickly identified, essentially, for their lack of a paper trail.
CNBC claims, “blockchain technology is valuable because it could potentially transform reconciliation, the action of verifying account balances in corporate America.”