Simplest Explanation of Blockchain Technology in 10 minutes (1/2)

Siddharth Ram
Oct 23, 2017 · 7 min read

Do your children need to pay such huge amounts of money to a single organisation for certifying them with a degree ? If no, then what is the alternative ?

Humans depend on Central Bodies which partly control our life

Ask these questions to yourself and think about it

Now Imagine these possibilities

This is Interesting, now tell me how it actually works

This is how Blockchain works (Banking Example)

Left: Before the transactions in the block are approved | Right: Transactions in a block are approved
Figure 2: Blocks

Complete Flow of Transaction on Blockchain

Summarising again

You might be having two questions now ?

Is Blockchain only for fintech ? What are the other possibilities

Do your children need to pay such huge amounts of money to a single organisation for certifying them with a degree ?

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