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Blockchain Technology | What is it? Examples?

Blockchain Technology | What is it? Examples?

Blockchain Technology | What is it? Examples?


Did you know that blockchain is a technology that allows you to keep track of a set of transactions, in a decentralized, secure and transparent way, in the form of a blockchain? Still can’t figure it out? Don’t panic, we’ll explain everything to you!

Blockchain: what is it?

Developed from 2008, blockchain is primarily a technology for storing and transmitting information. This technology offers high standards of transparency and security because it operates without a central control body.

More specifically, the blockchain allows its users – connected in a network – to share data without an intermediary.

In addition, the blockchain is an inviolable digital database on which all the exchanges carried out between its users since its creation are registered. Indeed, the successive exchanges are recorded there in the form of blocks of transactions. These records are called “Blockchain”.

Blockchain: how does it work?

In practice, a blockchain is a database that contains the history of all the exchanges made between its users since its creation. The Banque de France explains its main characteristics:

The blockchain: what are the advantages?

There are many advantages to using blockchain, including:

Blockchain: what applications?

The blockchain represents a major innovation which is used in particular in the banking sector. Indeed, historically, blockchain technology has developed to support transactions carried out via cryptocurrencies / crypto-assets (including bitcoins which are the most well-known form) and which have as main characteristic of not depending on an organization centralizing (like a central bank) and being international.

But its use is not limited to cryptocurrencies. Many fields and industries, commercial and non-commercial, public or private, are already using blockchain or planning to do so in the coming years. The uses of blockchains and other registry certification technologies, details some of the fields of use of the blockchain:

Data Analysis and Data Science | Differences, Applications, Jobs and Examples


There are many types of blockchains:


OptinMonster – Statistics transparency

With all of the streaming options available today, artists are struggling to make a living off their copyright, primarily because streaming platforms aren’t transparent when it comes to broadcast statistics. Blockchain will simplify rights management for music artists as it will provide a single source of truth for their art. It will be easier to establish ownership, to count the pieces and to pay the artists what is owed to them. Website:

MaintainX Inc. – Data Collaboration, Maintenance and Control

There is a natural tension between collaboration and data control. The blockchain is the link between the two. Businesses must not only work together to be successful, but also keep data in place in a non-editable and controllable form. By using the blockchain as a system of record, like a collaborative SQL database, companies can make transactions without having to trust partners or third parties not to corrupt critical data. Website:

Quantstamp – Decentralized financing, Security and Solutions

Decentralized finance refers to an ecosystem of financial applications built on chain networks. These applications are growing rapidly, shifting custody of assets from banks to software. While having the potential to boost global economic activity, DeFi applications can be vulnerable to hackers. Good security, both before and after deployment, is essential for growth and general adoption. Website:

Liberty BioSecurity – Electronic Health Records

The move from electronic health records to blockchain will revolutionize data ownership and the security of medicine. This will create greater immunity between data repositories, allowing for greater integration and the ability to harness cross-border data sharing to train advanced AI algorithms, which cannot be done today. Website:

Blockchain Simplified – To build a Blockchain based e-Commerce platform

Ecommerce is ready to be drastically changed by blockchains. E-commerce has the advantage of mostly taking place on the same medium as chain stores, and there are currently multiple ways of accepting payments. Many e-commerce companies have already implemented blockchain, unlike traditional global companies that have not yet, but are considering it. To build a Blockchain based e-Commerce platform for your business: website:

Myriad360 – Supply Chain Management

The blockchain and the supply chain go together like butter and jam. Blockchain provides accurate, authenticated, and transparent transactions with pre-approved, predictable fees and full auditability. The elimination of intermediaries reduces costs. Distributing the register increases reliability. And because transactions are immutable and irrevocable, the frequency of fraud is reduced. Website:


It is a technology for storing and transmitting information, taking the form of a database
Which has the particularity of being shared simultaneously with all its users and which does not depend on any central body.
Has the advantage of being fast and secure.
and whose scope is much wider than that of cryptocurrencies / crypto-assets (insurance, logistics, energy, industry, health, etc.).

Why do I need to know about blockchain?

For three reasons:

1. Blockchain technology isn’t necessarily just for the public sphere. It can be used in the private sector, where the nodes are simply the points of a private network and the blockchain is used as a distributed ledger. In particular, financial institutions are under great pressure to prove that they are compliant with regulations, and many of them are leading the way in implementing blockchains. Secure solutions such as blockchain can be the key to lowering compliance costs.

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2. Blockchain technology isn’t just limited to finance. It can be applied to any transaction in several stages requiring traceability and visibility. At the level of the supply chain in particular, the blockchain can make it possible to manage and sign contracts as well as to verify the origin of products. It could also serve as a voting platform, to manage titles and deeds and many other uses. The more the digital and physical worlds converge, the more practical applications of blockchain will develop.

3. The exponential and revolutionary growth of blockchain will arise from the convergence between public and private blockchains to form an ecosystem in which businesses, customers and suppliers can cooperate in a secure, traceable and virtual manner.

Read also: NFT Game, Art, Crypto (Non-fungible token | Non-exchangeable token)

Hopefully this gives you something to talk about blockchain, so happy mining!

FinTech Financial Technology | Finance, banking and insurance turned upside down

Sources: PinterPandai, EuroMoney, Investopedia, BuiltIn, IBM

Photo credit: B140970324 / Wikimedia Commons

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