Blockchain 101

The Potential of Blockchain Technology

The Bitcoin blockchain was built to enable a decentralized network to reach agreement on transaction data. It moved trust from a central authority to an entire network. If you trust the network to function properly then there is no need to trust any one individual on the network.

This brings up some very interesting questions:
What other data can be moved from a central server to a distributed network?
What are the implications of a technology that changes who and how we trust?
How will this wave decentralized innovation change the structure of our current business and political systems?
What will smart contracts be used for?

These questions will be examined in more depth in coming lessons. For the moment keep in mind that anywhere in which data needs to be shared among a variety of entities that may not trust each-other is a potential use-case for blockchain technology.

However, blockchains aren’t perfect and are not a solution to every data problem. Keep an eye out for our upcoming Blockchain Issues section.

The following few lessons in this course are dedicated to covering common blockchain questions and concerns.