What is the Blockchain?

blockchain, NOUN /ˈblɒktʃeɪn/

A digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.

From en.oxforddictionaries.com/definition/blockchain

A mysterious white paper (Nakamoto, Satoshi, 2008, “Bitcoin: A Peer-to-Peer Electronic Cash System”) introduced the Bitcoin blockchain, a combination of existing technologies that ensures the integrity of data without a trusted party. It consists of a ledger that can’t be changed and a consensus algorithm—a way for groups to agree. Unlike existing databases in banks and other institutions, a network of users updates and supports the blockchain—a system somewhat similar to Wikipedia, which users around the globe maintain and double-check. The cryptocurrency Bitcoin is the first use case of the blockchain, but much more seems to be possible.

The Next Generation of the Internet

The first 40 years of the Internet brought e-mail, social media, mobile applications, online shopping, Big Data, Open Data, cloud computing, and the Internet of Things. Information technology is at the heart of everything today—good and bad. Despite advances in privacy, security, and inclusion, one thing is still missing from the Internet: Trust. Enter the blockchain.