
How Does Blockchain Work?
Blockchain had its big breakthrough with Bitcoin in 2009. When blockchain comes up, most people start thinking about Bitcoin and cryptocurrencies, but it is a broad technology for handling information that can be used for almost anything. Many believe that blockchain will lead to a revolution and break through on a broad front throughout society.
How blockchain works
To explain blockchain, it is easiest to start from how everything works today. Let's say you buy a product online. Lots of different parties are involved. First of all, there is a factory where the product is manufactured. Then there may be various intermediaries and of course the retailer from whom you bought the product. In addition, one or more banks and freight companies are also involved. All these players have thei...