The most basic definition of blockchain is a shared, digitized ledger that cannot be changed once a transaction has been recorded and verified. All parties to the transaction, as well as a significant number of 3rd parties maintain a copy of the ledger (i.e. the blockchain), which means it would be practically impossible to amend every copy of the ledger globally to fake a transaction.
Bitcoin’s success has triggered the establishment of nearly 1000 new cryptocurrencies, leading to the delusion that the only application of blockchain technology is for the creation of cryptocurrency.
However, the blockchain technology is capable of a lot more than just cryptocurrency creation and may support such things as transactions that require personal identification, peer review, elections and other types of democratic decision-making and audit trails.
Luxembourg lawmakers have passed bill 7363 into law, facilitating the use of blockchain technology in financial services, according to an official announcement published by the country’s parliament, the Chamber of
Fairfax county of the United States state of Virginia, has invested $21 million in Morgan Creek Blockchain Opportunities Fund, according to an official notepublished on Feb. 13. Jeff Weiler, Executive Director
Intel has launched a commercial blockchain package based on the Hyperledgerecosystem, according to marketing materials published on Feb. 12. Intel, which is a member of the Hyperledger collaboration — hosted by
Chinese search engine and web services company Baidu has launched its Baidu Blockchain Engine (BBE), an operating system designed to facilitate decentralized application (DApp) development. The news was officially announced by Baidu’s
The founder and CEO of retail giant Overstock.com Patrick Byrne says that blockchain can make government “superefficient and incapable of being bribed,” in an interview with MarketWatch published on Feb. 12.
The Canadian unit of American tech giant IBM has partnered with pharmaceutical company Boehringer Ingelheim to deploy blockchain in clinical recordkeeping, according to a press release published on Feb. 12. The cooperation between