In late 2009 some unknown person, group or company published a white paper and invented a new form of digital money called “Bitcoin” and the underlying technology used was called blockchain (originally block chain).
What is blockchain?
“Blockchain is a distributed and incorruptible digital ledger system to store transactions and can also be programmed to do anything other than financial transactions”
It’s a complete new form of internet and going to disrupt everything, financial systems, banking system, governments and how we communicate on internet – everything. And it’s just started.
Infographic by BlockGeeks
How blockchain is useful?
Blockchain technology has more bigger use cases and not just limited to new financial systems. Everything is going to revolutionised again in blockchain’s way.
Blockchain is being used to store property records, proof-of-work, proof-of-assets. Like the current property ownership is only recognized by governments but if it’s done by blockchain, it’d be recoganized worldwide and can’t be hacked. You would be able to easily transfer to someone else without any government permissions. That’s the revolution.