[2017-01-27] IE: Blockchain and Bitcoins: The Renaissance of Money

[polynesia]

Blockchain and Bitcoins: The Renaissance of Money

http://indianexpress.com/article/technology/opinion-technology/blockchain-and-bitcoins-the-renaissance-of-money/

What is Blockchain?

The blockchain is a new infrastructure system for sharing records which was invented to create the peer-to-peer digital cash Bitcoin in 2008. It is a technology that makes creating and sharing of a digital ledger of transactions similar to bank ledgers.

However, unlike bank ledgers, blockchain records are not controlled by any central authority. The ledger file is shared among all the participants on the network called miners. Anyone can participate in the network by just downloading the open source bitcoin software.

[Pattberry]

This is in very well written feature by Sandeep Goenka the Co-founder of Zebpay and published in Indian express,what i like is the detailed explanation in simple terms about bitcoin and blockchain and their quote that it protects the identities and prevents fraud, thus carrying out legitimate transactions.  . It is certain that blockchain would prevent counterfeit currency which is a major issue in India .