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What is block chaining?
Posted on 5/24/18 at 1:18 am
Posted on 5/24/18 at 1:18 am
A friend tried to describe it to me. The next phase of the internet and investing, he said. I couldn’t wrap my brain around. Read a bit on google; just curious if anyone has a better/easier explaination. I’m a type A personality, so that’s not helping matters....
2
Posted on 5/24/18 at 1:43 am to scormi5
That’s a huge question that takes an understanding of a lot of separate processes that in combination produce a system that is greater than the sum of the parts.
The block chain is what allows crypto currencies to have value and prevent counterfeiting, if the code is good. Currently it is spreading to all financial and accounting systems, supply management, insurance, healthcare records.
Ultimately it will allow you to control your personal data and charge google and the like for their use of it. Your personal data has much value to advertisers and companies wanting to sell you something. You should get paid for that.
In a way, it is also truth that is agreed upon in an open record called a ledger. A clearinghouse that proves the validity of transactions and values.
Eventually it will replace the patent system to prove ownership of ideas and allow payment for value generated as ideas move from thoughts into tangible products. It will change everything in human activity.
The revolution has begun. Good luck in your studies and understanding of it.
What is the Blockchain.
The block chain is what allows crypto currencies to have value and prevent counterfeiting, if the code is good. Currently it is spreading to all financial and accounting systems, supply management, insurance, healthcare records.
Ultimately it will allow you to control your personal data and charge google and the like for their use of it. Your personal data has much value to advertisers and companies wanting to sell you something. You should get paid for that.
In a way, it is also truth that is agreed upon in an open record called a ledger. A clearinghouse that proves the validity of transactions and values.
Eventually it will replace the patent system to prove ownership of ideas and allow payment for value generated as ideas move from thoughts into tangible products. It will change everything in human activity.
The revolution has begun. Good luck in your studies and understanding of it.
What is the Blockchain.
Posted on 5/24/18 at 10:39 am to scormi5
Block chaining is cool but it is mostly hype at this point. I wouldn't worry about what it is too much, unless you are in tech or finance.
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