The blockchain technology is likely the best invention since the Internet itself.
Without a doubt, it is crucial to building a basic understanding of this emerging technology that has the potential to change the world.
I’m sure you’ve probably noticed most technologists and early adopters proclaimed that our society and economy will be massively disrupted by Blockchain in the coming years.
And yet this disruptive technology is still fundamentally difficult to be explained in layman terms.
That said, the catalysts within Blockchain sphere should be the best person when it comes to explaining what Blockchain is.
1. Andreas M. Antonopoulos
Andreas is a best-selling author, speaker, educator and one of the world’s foremost bitcoin and open blockchain experts. He is known for delivering electric talks that combine economics, psychology, technology and game theory with current events, personal anecdote and historical precedent effortlessly transliterating the complex issues of blockchain technology out of the abstract and into the real world.
According to Andreas, Blockchain is the technology behind Bitcoin. Or simply, it’s a decentralized replicated database.
2. Don Tapscott
Don is a business executive, author, consultant and speaker – who specializes in business strategy, organizational transformation and the role of technology in business and society. He is the CEO of the Tapscott Group and the co-founder and Executive Chairman of the Blockchain Research Institute.
From what Don Tapscott proclaimed, Blockchain is a global distributed ledger, or database running on millions of devices and open to anyone.
3. Primavera De Filippi is a permanent researcher at the National Center of Scientific Research (CNRS) in Paris, and a Visiting Fellow at the Robert Schazuman Centre for Advanced Studies at the European University Institute.
In her plain English, blockchain is a software technology that facilitates fast and secure transactions without a need for third parties.
Blockchain is not administered by a single person or company, transactions cannot be reversed, accounts cannot be deleted and new currency cannot be created out of nowhere.