Blockchain Technology

Written By: Jesse Baker, CTB

The new keyword in business and consumerism is Blockchain.  From the distribution of data to financial transactions, blockchains are being used everywhere.  But what exactly is blockchain?  Let’s take a look at an example that will describe it best.

To best describe blockchain, it is easy to say it is just like Google Sheets.  Google sheets is a spreadsheet that is shared publicly (distributed through different servers, where every server sees each transaction), is decentralized (everyone is allowed to create a transaction and set rules), secure, trusted, and automated.  What makes this so nice is that the flow of data is happening all at once, while preventing duplication.

Here is a great reference for the actual flow of the transaction, from beginning to end

As the above example shows, blockchain is vital to the growing ecommerce world because of how secure, automated, and efficient it is.  Be prepared to one day be a part of a blockchain, as it will soon start moving in to every sector and be commonplace.