Why a language for business networks?
Thinking about a business network allows us to look at a set of activities and describe them using a straightforward vocabulary. And, because we're trying to formulate the world in a language that makes sense to a blockchain, which is a simple technology, we expect that language to be brief and to the point. We'll see that it is!
Why do we want to create a language that a blockchain can understand? Well, if we can, then we can bring all the benefits of the blockchain to a solution that uses that language. Rather than every blockchain solution being different, they all become the same. And the major way in which all blockchain solutions compare is that they all benefit from one thing—increased trust.
Increased trust means that the student can show their high school certificates to their college, who can be confident about the veracity of the qualifications. It means that the bank can provide a loan to its customer...