Original cartoon can be found at http://ericsammons.com/what-is-the-blockchain/

How I often feel when I hear someone talking about cryptocurrencies.

If you watched the hilarious satirical guy explaining bitcoin and understood almost none of it — fear not — today we are going to decode his message!

Where do we even start? I know! Let’s start by the most obvious — blockchain! What the hell is a “blockchain”?

Blockchain is basically just a decentralized database — a ledger if you will.

What is the difference between centralized and decentralized? Let’s imagine you have two apples and you want to give one apple to your friend, William.

Well, in a centralized world you would have to ask permission from Williams friend, Bill. First Bill will have to vet if you have the apple or not and if you do — Bill gives you permission to hand over the apple. Bill in this example is the bank.

But with a decentralized — you actually don’t have to ask permission from Bill, aka the bank. Blockchain will confirm if you have the apple and will proceed with the handout.