Blockchain: What Is It Good For?
Thanks the perfect storm of slain. You saw big marketing budgets and elon musk's tweets blockchain has been hyped beyond belief. And it's also been made more complicated than it leads to be. More i could up angolan go. My name's ingram go. I'm senior vice. President and chief technology officer for a special intelligence at hewlett packard enterprise. So first question. What exactly is a blockchain. Let's start with a public blockchain first. Let's use an example of a analogy of a of a ring binder. You've got this notebook with many blank pages bound by a ring ring binder on page one the record number of transactions. You know. maybe. Jim pays john two bitcoins and sarah pays jim ten bitcoins and so on and so on then on the next page You have the same again. Set of transactions being written down on it and the knicks page and then expansion so on so if if you imagine each page is a block and all the pages of bound by the ring bind up being the chain. You actually have a a blockchain there right. So that's what blockchain is except for the fact that in a public blockchain this ledger or this record. Write this chain of pages. Chain of blocks is digital and is distributed to everyone publicly equally publicly with no central custodian. Why you want to use a blockchain. There are two major reasons. Why you want us a blockchain right first and foremost this when you wanna keep record of an entire sequence of transactions especially if you want to go all the way to genesis the beginning and secondly you won that record to be transparent that is you want the decentralize it by distributing copies of the same sequence records to everyone equally with no central custodian