By now you’ve probably heard of Bitcoin, the famous cryptocurrency. Most people are aware that the critical foundational technology supporting Bitcoin is called blockchain, which is a distributed record of digital events. Marc Andreessen, a prominent U.S. venture capitalist has called blockchain’s distributed consensus model as the most important invention since the Internet itself.
How does it work? Only the owner of the private key (part of PKI) can unlock the coins in the public key account (BitCoin address)
Now you understand most of it! Blockchain at its most basic is a linked list of hashed records where the hashes become the proof
But how does Bitcoin relate to blockchain and why are global banks investigating the use of blockchain in their applications? What problem does blockchain solve, what technologies does it use, why should you care? Why are a variety of industry sectors interested in this mechanism?
In this talk John provided valuable information on blockchain, related technologies and implementations for you to make up your own mind. Explanations of how it works, who’s using it today, who might be interested in the coming months/years and why what it may mean to you.