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THE FUTURE IS BLOCKCHAIN Introduction Most of the time the Blockchain is usually described as digital ledger In a nutshell the Blockchain is simply a ledger a distributed as well as a digital ledger The Blockchain is a distributed database that offers an unalterable and semi public record of digital transactions Each block aggregates a time stamped batch of transactions to be included in the ledger Each block is also identified by a cartographic signature Furthermore these blocks are all back linked meaning that they refer to the signature of the previous block within the chain and that a chain can be traced back all the way to the very first block created Consequently the Blockchain contains an un editable record of all the transactions made Way forward It is a fact that among the younger generation digital currencies have taken over from gold as the choice of investment and sooner or later currencies such as bitcoin and ethereum will be competing against nation state paper currencies In case Blockchain is used in various industries there will be a digitally integrated global economy that will boost economic growth and lower the levels of poverty Blockchain has a huge potential because it provides the chance to distribute digital ledgers to others via computer networks all over the globe An example is in Sweden Georgia and Ukraine where property registers are being moved on to the blockchain In the world of finance people never lend to each other directly most of the time hence the need for banks as facilitators
