Simply put a list of records, called blocks, which are linked and
secured using cryptography. Each block contains a hash pointer
as a link to a previous block, a timestamp and transaction data
Blockchain technology poses a huge paradigm shift for business and is widely regarded as uncharted territory.
The Problem: Multiple versions of the truth
In addition to intentional fraud, in ‘normal’ business there are ‘multiple versions of the truth’. Currently each participant in a transaction keeps his own separate, individual ledger and therefore his own version of the truth. Which is why we need and rely on intermediaries like notaries and layers to provide consolidation and trust.
The Solution: One single version of the truth
With Blockchain there is for the first time a technology that can add indisputable Proof of Authenticity to all the content we create, store, process, share and distribute. One single version of the truth. So, with Blockchain we not only end digital fraude we als no longer need to rely on intermediaries, which is much more efficient, safer and cheaper.