by Miles Price (Author)
By now, it is statistically likely that you have heard of blockchain technology, after all, it powers Bitcoin, and by December 2017, with prices as high as $16,600 per unit, there is no one out there that hasn't at least heard the term thrown about somewhere. This in no way means you should understand the ins and outs of this new technology and, in fact, less than 50 percent of all Americans can accurately describe just what a blockchain is or what job it does. To clear that up at least, a blockchain is essentially a decentralized database that is extremely malleable while at the same time remaining extremely secure. Currently, they primarily store financial data, and do so in such a way that allows easy access for any authorized user while at the same time making it very difficult for unauthorized users to access anything useful. Due to its potential to revolutionize the way many types of data are handled, it is already being called the most promising new technology since the creation of the internet.