Blockchain technology will change the world

A blockchain can be used to perform tasks and store data in the same way as an operating system such as Apple MacOS or Microsoft Windows. However, this does not take place locally on a PC; rather, it is decentralized on a variety of different computers around the world. All data is securely encrypted by cryptography. A blockchain is roughly the same as a distributed database. Despite the encryption, the blockchain always remains transparent. That’s because the individual data stores (“nodes”) monitor each other and thus serve as a safeguard against manipulation and corruption.

The application of blockchain technology has no limits. The best-known application is the implementation of digital currencies. Smart contracts go one step further, and allow the complete automation of contracts. Particularly interesting is the blockchain technology for countries with limited infrastructure. Because it opens the global market for them. All you need to access the blockchain is Internet access.

How does the blockchain work?