Blockchain is the result of over 25 years of research that solves the fundamental problem of double spending value online. The internet we use today was built for copying information from one computer to another. This means that you can view (a copy of) a website to read the news, view this video or communicate with friends on social media. The internet was never built to keep a limited supply of anything and to transfer this to someone else, this means that we were never able to have internet money since everybody could copy it. Our workaround is how we still bank online today: We trust banks to guard a digital representation of our money and communicate with them to send it to someone else through a website. This works but it’s not an elegant solution, when your bank is unavailable, so is your money.
Thanks to blockchain technology there is an alternative that eliminates the copying of money or any other piece of information that represents real value such as ownership of your house, a vote or a contractual agreement. Blockchain technology allows you to transfer information from one party to another party and its first application Bitcoin demonstrates how well it works.
Blockchain is set to change how we transfer value over the internet, it will allow new business models and will optimize value transfers in today’s economy. In this first video we explain what blockchain is, how it works and we touch open some general use cases. Curious about blockchain or enthusiastic to explore its potential for your organization? Get in touch.