Is Blockchain Really Comparable To “The New Internet”?

Blockchain is a decentralized, digital public ledger which contains all of the cryptocurrency transactions. A single part of the blockchain is called a “block” which contains all records of recent transactions. When that is completed, the block goes right in the blockchain as a permanent data.

The blocks are sorted in a chronological order which makes it easier for users to keep track of all the transactions made without any central entity recordkeeping. The blockchain has information about user addresses and their balances.

The blockchain was designed so the transactions can’t be deleted. And also, data cannot be copied.

Because of its remarkable technology, Blockchain technology is starting to be taken into consideration in some of the most advanced countries and that is Germany. Two of Deutsche Bank bankers made a presentation earlier this month about how blockchain works. The bankers say that blockchain technology is a faster and cheaper way of exchanging assets and financial products without any mediator in between, which lowers down the asymmetrical information between individuals.

There is more information about Deutsche Bank – blockchain opportunities HERE:

Also, France has joined the blockchain craze, stating that the French government has made new rules that enable banks to establish blockchain platforms for trading securities.

You can also see more about France accepting blockchain technology HERE