Blockchain Basics

  1. Including goods transfer for example, supply chain.
  2. Digital media transfer, for example, sale of art.
  3. Remote services delivery, example, travel and tourism.
  4. Platform for decentralized business logic, for example, moving computing to data sources
  5. Distributed intelligence, example, education credentialing.
  1. For example, power generation and distribution.
  2. Crowd funding for example, Startup fund raising.
  3. Crowd operations, for example, electronic voting.
  4. Identity management, for example, one ID for all your life’s functions.
  5. Government public records and open governing.
  1. A continuously working digital currency system, and
  2. A model for autonomous decentralized application technology called the blockchain.
  • It is not owned by a single entity, hence it is — Decentralized
  • The data is cryptographically stored inside and immutable, so no one can tamper with the data that is inside the blockchain — Immutable
  • The blockchain is transparent so one can track the data if they want to — Transparent
  • We have a credit card agency,
  • we have a customer bank, we have a credit cards bank,
  • we have an exchange,
  • we have the merchant’s bank, and finally, the merchant.
  • validate,
  • verify, and
  • confirm transactions through consensus

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Naveen Kumar

Naveen Kumar

Another Atom, in the universe of atoms :)

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