What is it?
The blockchain is a decentralized ledger of all transactions across a peer-to-peer network. Using this technology, participants can confirm transactions without the need for a central certifying authority. Potential applications include fund transfers, setting trades, voting, and many other uses.
How it works:
Consumers could use the blockchain to manage fractional ownership in autonomous cars.
Faster, cheaper settleements could shave billions of dollars from transaction costs while improving transparency.
Using a blockchain code, constituents could cast votes via smartphone, tablet or computer, resulting in immediatety verifiable results.
Patients' encrypted health information could be shared with multiple providers without the risk of privacy breaches.