Photo courtesy of The Roanoke Star
Whether you know all there is to know about blockchain technology, or whether you know nothing about it, this worldwide phenomenon is changing how we do business, conduct commerce, keep our currency secure, even book a hotel. Its influence is growing by leaps and bounds, so if you're not familiar with how it works, you need to get up to speed, fast.
That's the essence of a recent article I wrote for The Roanoke Star, in which I said that people typically think of blockchain only in connection to cryptocurrencies such as Bitcoin, Ethereum and DigiByte. But the blockchain technology is really what people should be paying attention to. (Read the article here.)
Originally created to keep cryptocurrency transactions secure, blockchain now has seemingly limitless applications
As I state in the article, blockchain's value lies in the fact that once data is recorded, it can’t be changed without the approval of a majority of network participants. This creates a (supposedly) fraud-proof system and authenticates the information that’s exchanged.
As examples, here are just a few of the ways blockchain is being used today: