What is Blockchain?

• The technology behind Bitcoin but much more than meets the eye

• A digital ledger that can be programmed to record not just financial transactions but virtually everything of value (Financial, Medical Asset records).

• In simple terms a continuously updated record of who holds what in a decentralized distributed database (Ledger).

How does it work?

• Data is stored in blocks that are permanently linked together forming a chain (Blockchain).

• All data is stored in a new block records can’t be re-written

• Each block contains a timestamp and link to the previous block

• Similar to the general financial ledger

Decentralized Network

• Data is not stored by one central authority or system

• Blockchain is a decentralized distributed network of data

• This network is essentially a chain of computers that must all approve the data before it can be verified and recorded.

Creating Trust

• A puzzle must be solved to create a block

• The solution is then shared to the network of computers (Proof of Work)

• The network then verifies the POF and if correct added to the chain

• Creating a database of information that can’t be tampered with therefore creating TRUST

Blockchain Technology

• Public Blockchains

• Private Blockchains

• Hybrid Blockchains

• Possibilities are endless though the advancement of blockchain technology

• Giving the world a more transparent and trustworthy database

• All blocks are encrypted in a special way, so everyone can have access to all the information but only a user who owns a special cryptographic key are able to add a new record to a particular chain.

• As long as you remain the only person who knows the key, no one can manipulate your transaction. In addition, cryptography is used to guarantee synchronized copies of the blockchain on each computer (or node) in the network.