Everybody is talking about it: Blockchain. The main question everybody is asking is: What is Blockchain?
Originally created for Bitcoin
The technology underpinning Bitcoin, the cryptocurrency created by a group of programmers (known as Satoshi Nakamoto) in 2009, is one of the leading open-source platforms governing these transactions. Even though Blockchain was originally created for Bitcoin, the tech community is now finding other potential uses for the technology that is using the principle of peer-to-peer networking.
A disruptive technology
The database does not have one particular location, records are kept public and easily verifiable, and it is hosted by millions of computers simultaneously. In her TED talk, Blockchain researcher Bettina Warburg describes how the blockchain will eliminate the need for centralized institutions like banks or governments.