The rapid surge in the price of Bitcoin has brought discussion on cryptocurrencies and distributed ledger technologies (DLT) into the mainstream. But why all the hype? Before diving into such topics, it is important to have a foundation on the technology behind cryptocurrencies: blockchain.
Blockchain is shorthand for a whole suite of a distributed ledger technologies that can be programmed to record and track anything of value, from financial transactions, medical records or land titles.
This video is an accessible introduction to blockchain technology: how it tracks and stores data, how it fosters trust, and how it facilitates peer-to-peer transactions without the involving middlemen like bankers or lawyers.
Blockchain’s potential for underpinning online interaction is limitless. But, much like the rise of the internet, this new technology brings with it complex questions around governance, international law, security, and economics.