From the course: How Blockchains Will Change Business
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What does a blockchain accomplish?
From the course: How Blockchains Will Change Business
What does a blockchain accomplish?
- Ask even the people who work with blockchains to define them and you get a stuttering response. That's a line from a New York Times article explaining blockchains. And it's true. Blockchains are hard to explain because they can so many things. Let's fix this. I'm going to help you describe, in common language, what blockchains accomplish. To get there, let's compare it to something we know well, the web. What did the web accomplish? It's hard to answer, right? The web does so many things and it birth these business models that have completely transformed our lives. But big picture, put very simply, the web made it easier, faster, and cheaper to communicate data. Whether we're sharing a document or trying to coordinate a ride based on our location, or sharing our perspective with friends around the world, it's vastly easier, faster, and cheaper than before. And at the highest level, that's it. So what will…
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