Blockchain Discussion
By Joshua Duxbury

What is the Blockchain?

Shared – The more organisations or companies that participate in the blockchain the more valuable the Blockchain becomes. Data becomes vastly visible, accessible and immutable.

Distributed – There are many replicas of the blockchain database. The more replicas there are, the more authentic it becomes.

Ledger – The database is a read/write only database. Therefore, it is an immutable audit trail of every transaction that has happened.

Cryptographically Safe – Using public and private keys the data is ultimately safe and this is one of the reasons it was used as the technology behind Bitcoin.

What are the disadvantages?

Bitcoin only computes 7 transactions a second

Data within the ledger can’t be deterministic

What are the advantages?

We can have a peer to peer exchange to dramatically reduce settlement time.

Shared instant data between organisations.

Immutable ledger (CRUD VS CRAB)

How could it benefit your company?

Allowing trust between organisations where there is none.

Immediate trusted accessable data share between organisations.

Smart Contracts, allowing rule-based automation.

Who uses Blockchain?

Any questions?