Читать книгу Blockchain Data Analytics For Dummies - Michael G. Solomon - Страница 29

IN THIS CHAPTER

Surveying the blockchain ecosystem

Examining types of blockchains

Solving business problems with blockchain features

Aligning blockchain with business use cases

Blockchain is one of the most discussed technologies of our time. It's commonly described in many ways, including “a disruptive and game-changing technology,” a “distributed ledger of transactions,” and a “new kind of database.” Although these short descriptions are different, there's some truth in each one, but none captures what blockchain is all about. In short, blockchain technology is a radical new approach to delivering trust and confidence over exchanges of value without relying on a trusted third party.

Wow, that’s a mouthful! You’ve probably heard that blockchain supports transactions between participants in a trustless environment. Most of the time, when you transfer something of value from one party to another, you use a trusted third party (someone you trust to handle the money or whatever you're transferring). For example, when you pay a vendor, you use a bank (writing a check) or a payment card processor (using plastic). Both the seller and buyer trust the bank or card processor, so you can trust that the transaction will be completed as you expect. Of course, you can also pay with cash, but even cash transactions depend on a government to guarantee the value of the cash you use. Blockchain technology makes it possible for you to buy something from someone you don’t know (or trust) and still trust that the transaction will complete as you expect without having to rely on a third party.

Blockchain does a lot more than just handle payments — it can manage the transfer of any asset from one owner to another. That asset can be cryptocurrency, real estate, cars, premium olive oil, or anything of value in the real or virtual world. And the great thing is that all information on how those ownership transfers take place stays on the blockchain for later review.

In this chapter, you learn what blockchain technology is all about, some of the different options available, and how to best use blockchain to solve business problems.