What is a Blockchain?

Blockchain technology has shown it's potential in the form of cryptocurrencies, but most people don't know what a blockchain is. A blockchain is a distributed digital ledger that can record information in permanent and unalterable manner. Jeremy dives into blockchains, their properties, and the potential blockchain has to help the world! Keeping records has been an issue since the beginning of recorded history.

Keeping track of inventory and who owes what has always been a struggle. The solution that ancient civilizations came up with is a method called double entry bookkeeping.

This system calls for two separate Ledger's maintained by separate parties that keep track of all debits and credits. To say this method has caught on is a massive understatement. This has been the underpinning of our financial systems ever since and we're talking thousands of years. Our whole banking system is built upon this principle with only the bank and you having access to your record of transactions

In response to a 2008 financial crisis a new technology was outlined and it would later become known as blockchain. blockchain is a decentralized ledger that reports all transactions yet is viewable by the public. the transaction is permanently recorded to the blockchain and cannot be changed by anybody. this essentially created an extra digital ledger distributed to anyone who wants to view these transactions. this creates a level of accountability as most Ledger's would have to be changed in order for that become the truth on the blockchain.

The name Blockhain largely refers to the structure of the technology. ... https://www.youtube.com/watch?v=Bp2A8Tlk-tQ