Financial Quotient

What is blockchain?

Blockchain - the underlying technology behind cryptocurrencies - is a secure distributed ledger that allows any two parties to digitally transact with each other without a need for an intermediary or a central authority.

Blockchain enables the transfer of value from one user to another, just like an e-mail enables the transfer of information.

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A version of this article appeared in the print edition of The Sunday Times on July 22, 2018, with the headline 'What is blockchain?'. Subscribe