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Blockchain – built by certain rules, a continuous, sequential chain of blocks (linked list) containing information. Most often, copies of block chains are stored on many different computers independently of each other.

The term first appeared as the name of a fully replicated distributed database implemented in the Bitcoin system, which is why blockchain is often referred to as transactions in various cryptocurrencies, but the blockchain technology can be extended to any interconnected information blocks. Bitcoin became the first application of the blockchain technology in October 2008.

Imagine a digital medical history: each entry is such a block. This entry has a label: date and time of entry. Initially, it is considered mandatory to ban retroactive change of records because it is necessary that diagnostic, treatment, etc. records did not allow different interpretations and remained in their original form. Only a doctor who has one private key and a patient who has another can access the records. Then this information will only be accessed if one of these users provide their private key (for example, to the hospital or an individual specialist). This is an example of how blockchain technology can be used in a medical database.

Blockchain is decentralized, and there is no one common “command center,” hacking that will succeed in destroying all the data about the transaction and its participants or changing them. Hacking one computer will not affect the integrity of the data on the others (as well as on their change).

Blockchain will be a good help for any services where users could worry about possible fraud or data integrity:

– Micropayments

– Bank operations

– Logistics

– Jurisprudence

– Medicine

I think blockchain is really the beginning of the fourth industrial revolution.

“Money is just a number. But it must be a reliable number. Digital currencies are based on the fourth industrial revolution, called the blockchain.”

Bin Henu