Blockchain Beyond Bitcoin: Transforming FinTech, Healthcare, And More [Forbes]
International Business Machines Corporation (IBM)
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Source: Forbes
(c) Leowolfert | Dreamstime.comThe origin of blockchain dates back to 1991, when researchers Stuart Haber and W. Scott Stornetta outlined a system to document timestamps that could not be altered. However, it is most widely known as the underpinning of Bitcoin, introduced to the tech world when Bitcoin’s pseudonymous creator, Satoshi Nakamoto, referred to it as “a new electronic cash system that’s fully peer-to-peer, with no trusted third party.” Soon after that, Blockchain became the next possible bedrock of record-keeping worldwide and the underlying distributed ledger technology (DLT) that powers many of the most popular digital currencies.The goal of blockchain is to digitally record information to be distributed but not tampered with. It is an open, decentralized ledger that records transactions and entries that are confirmed by peer-to-peer networks and encrypted. The data is stored into a “block,” or a fixed event that has been approved and locked into place. Each block is then
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