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

Digital uniqueness

The beginning of the 90s brought the internet as we know it today, a network in which computers can communicate using the TCP/IP protocol. Since the invention of the World Wide Web, the first internet-based application, computers have been able to exchange information endlessly across the network.

This mechanism, covered in Chapter 5, An Economic and Historical Approach of Blockchain, is called replication; the nodes (computers and servers) connected to the network (internet) can replicate the information to pass it on to the other nodes. Replication decreases the value of a digital item as it is transferred over the network. With Bitcoin, the world witnessed digital scarcity for the first time. This is how it works:

  • First, an initial level of scarcity is induced by overcoming the double-spending problem, ensuring that a digital asset cannot be replicated when...