Technological progress brought us the Internet of Money; the bitcoin. Under the hood, you have the blockchain. Apart from money, you can store other valuable elements with this engine and transmit them without intermediate parties: e.g. contracts, tangible and intangible properties, certificates. Other characteristics are: it’s digital and global, open and transparent, secure and encrypted, immutable and you can enter and exit freely at all times.
Without going in too much technical details we learn you to understand the blockchain technology.
How blockchains works:
- Distributed database
- Peer-to-peer transmission
- Transparency with pseudonymity
- Irreversibility of records
- Computational logic