[2016-05-04] Mint: De-jargoned: Blockchain

De-jargoned: Blockchain

http://www.livemint.com/Money/DcIk1lYSurSrbK6XlLydCK/Dejargoned-Blockchain.html

Blockchain is a code—a digital ledger software code. A ledger is a collection of financial transactions which records the exchange between parties. It shows what comes in and to whom and what goes out and to whom. Blockchain collects all this information in digital form. It is a decentralised system that can be created and updated anywhere. As the name suggest, every block of data is connected to another block in a chain format. This technology can be used for record keeping in case of any transaction. Blockchain is believed to be relatively more secure, transparent and accountable technology than the existing one. This code can be used to build application that will allow you to keep a record of all transactions without the need of an intermediary.