Hey Guys,
I am Toshendra Sharma, Founder of Blockchain Council and Toshblocks.
We've decided to launch a series of Podcasts on Blockchain Technologies talking about the Blockchain use cases & technical innovations for the everyone to understand the Blockchain technology that’s rewiring our lives.
This is the very first episode of our Blockchain Podcasts series. Join in every Thrusday finding out about what is happening in the world of Blockchain. If you find this informational, please subscribe to our channel and then like & share it.
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Below is the transcript of the Podcast:
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So our topic for the the first episode is “Why Blockchain should not be considered as a technology of only Bitcoin and Cryptocurrencies?”
Before I begin, I want to quickly go through Blockchain & try to understand in short what is Blockchain. So Blockchain is a Peer-to-peer network of computers & servers which are together taking certain decisions without having any single or multiple trusted computer to take a decision. So in other words, there is no one to decide if certain thing is write or wrong, everyone in the network decide this together using something called consensus algorithms. So reaching to a consensus without having any boss, leader or superior together is the core component of the Blockchain. And that’s why Blockchains are being considered as something which can lead the future innovations.
It’s like executing an election on every second of every decision among 1 Billion people without having any election commision. Isn’t it beautiful & sounds something interesting?
What I have explain you just now is a very generic sense of Blockchain, there a tons of other things as well which makes it more powerful, secure & fast.
This Blockchain technology which empower the Bitcoin or other cryptocurrencies can be used in many powerful industrial application such as:
Data Security
Record Keeping
Supplychain
Cross-border banking transaction involving real money
Voting System
etc.
Blockchain technology is an independent and distributed technology which empowers Bitcoin. Cryptocurrencies use Blockchain technology just to confirm and record transactions and make it a cryptocurrencies which has features of real money but exist on computers only.
We can use Blockchain in any field to bring transparency like in Voting, Real Estate or any other big or small sector which we will discuss in upcoming series.
So to summarize everything, Blockchain offers tons of features like trustless data transfer, record keeping, data security, immutability which makes it very useful in many industries and not just a technology for bitcoin & cryptocurrencies.
Ok thank you guys for listening. Let’s meet on next podcast & talk about other topics.
Keep watching this space for upcoming podcasts.
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