Book Image

Blockchain for Decision Makers

By : Romain Tormen
Book Image

Blockchain for Decision Makers

By: Romain Tormen

Overview of this book

In addition to cryptocurrencies, blockchain-based apps are being developed in different industries such as banking, supply chain, and healthcare to achieve digital transformation and enhance user experience. Blockchain is not only about Bitcoin or cryptocurrencies, but also about different technologies such as peer-to-peer networks, consensus mechanisms, and cryptography. These technologies together help sustain trustless environments in which digital value can be transferred between individuals without intermediaries. This book will help you understand the basics of blockchain such as consensus protocols, decentralized applications, and tokenization. You'll focus on how blockchain is used today in different industries and the technological challenges faced while implementing a blockchain strategy. The book also enables you, as a decision maker, to understand blockchain from a technical perspective and evaluate its applicability in your business. Finally, you'll get to grips with blockchain frameworks such as Hyperledger and Quorum and their usability. By the end of this book, you'll have learned about the current use cases of blockchain and be able to implement a blockchain strategy on your own.
Table of Contents (16 chapters)
Title Page

Exchanging value in the digital world

In the digital world, the million dollar question is: how do you ensure that one digital asset cannot be replicated?

To answer this question, it is important to understand that the internet was built to exchange information. This information is copied from computer to computer, replicated across the network. Each bit of data that goes through a node can be replicated or stored. In other words, once a piece of information is injected into the internet, it replicates and spreads quickly through the network that erases its uniqueness. This is how information transmission works—by replication.

The problem is that, in commercial transactions, we do not pass along information for free; we transact value that shouldn't be replicated. If I send you a dollar, I'm not supposed to hold it anymore because if I did, it would be worthless...