Blockchain technology will transform transactions in every field.
For 1,000+ years, transactions have been mostly local bookkeeping systems. For the past 100 years, even though the computer age changed the way information was managed, things did not change that much. Each company continued to keep its transactions to itself, only sharing some information through tedious systems.
Blockchain makes a transaction block visible to the global network it has been generated in.
The fundamental concepts to keep in mind are sharing and privacy control. The two ideas seem to create a cognitive dissonance, something impossible to solve. Yet it has been solved, and it will change the world.
When a block (a transaction of any kind) is generated, it is shared with the whole network. Permissions to read the information within that block remain manageable and...