Blockchain

1. Define blockchain technology?
Blockchain technology is not a cryptocurrency, blockchain, as a technology is not for cryptocurrency at the same
time a lot of cryptocurrencies, are not actually using blockchain technology. Blockchain technology is a platform
that provides utility. A Blockchain is a data structure it is a timestamped ledger, maintained over a distributed
network. The first mainstream application of blockchain technology was bitcoin, bitcoin is the original cash system,
which enabled peer-to-peer, micro, and nano payments, something that was previously not possible.
As bitcoin has scaled it can now support, data storage alongside the original electronic storage cash use case.
Unfortunately, most blockchains are used to underpin so-called cryptocurrencies.

2. How should we view blockchain technology?
An excellent way to view blockchain technology is that it provides an infrastructure for data to flow securely and on
this, the infrastructure we can embed data within transactions to create an immutable record for that data.
What the internet has done for the exchange of information, blockchain will do for the exchange of value, just as
the internet has revolutionized how we exchange information, around the world the blockchain, will revolutionize
how we record, and exchange all forms of quantifiable value. Blockchain will do this transparently and immutably.

3. Conclusion
The internet of value will let any asset, or value be exchanged as quickly and as fluently as data on the web. I
can send a photo, for example to anyone around the world instantly but a single payment, from one country to
another is slow expensive, and unreliable. It can often take days, for multiple third parties to process and validate
transactions.
As we shift towards a new internet paradigm web 3.0 information will be processed in a much more efficient way,
without trusted third parties.
Blockchain will be the foundation of this, on top of this next-generation applications and services will flourish, this
is what we call the internet of value, and it will rely on bitcoin as a global interoperable source of trust, the ability
to embed data at a low transactional cost will provide a means for data exchange and integrity without the risk
that comes from a single point of failure.