WHAT IS BLOCKCHAIN:
Lets start slowly, and give some real world examples as simply as possible. Then dive into its relationship with Crypto.
So a few examples,
So a few examples,
- Over the years companies have been gathering our information or " Know your Customer " ( KYC ). Once these companies have your information they can do a few things with it. One is to sell it, another would be to use it as a targeting tool for advertising, and some just hold it in case they need it ( your medical records). They store this information on their computers or the cloud.
- The internet has allowed computers to communicate very quickly, and people to communicate to anywhere at any time. A virtual playground of information just floating around for all to see and interact with thanks to social media platforms.
- Identity theft, private government documents, world secrets, banking information, medical information, the list goes on with regards to hackers being able to access private information.
- What if there was a secure network that was unable to be hacked and no one could access this information without your approval? What if all the information was encrypted so only the approved parties could see the information? Well these are just some of the functionalities of a Blockchain.
In affiliation with Bitcoin Consultants Worldwide