Blockchain has grown its popularity as people from different parts of the world started to be involved in the power of this technology. It is believed that blockchain will revolutionize the way our money moves from one country to another and thus reduce transfer cost and settlement days can happen in seconds.
Before we even start being overblown by these technical terms, let's try to define what is blockchain, and all related topics revolving it.
What is blockchain?
Blockchain is a database that is shared over a decentralized (no central point of authority) network. Meaning that your computer can store blockchain data. It is not sensitive of location and computer ownership since the data are highly encrypted. Stored in non-human readable format. Transactions done on blockchain can be verified to any computer around the world thus ensures that movement of assets and it's value is done in a permanent way.
I'll continue on this tomorrow.