Bruce Devlin is back with Bruce’s Shorts, succinct presentations on hot technology topics. What is a blockchain and why does everyone say bitcoin in the same sentence? This short explainer video tells all.
Bruce introduces the blockchain as the computer magic that makes bit coins work. He runs through the example of a conventional credit card transaction with a central ledger then cites a cashless card game, where each player runs their own spreadsheet to track the transactions. A full spreadsheet become a block, which can be stored in a ledger.
This leads on to the concept of ledgers and chains of blocks with cryptographic signing.
Why are blockchains important to the media industry? Bruce proposes how blockchains could revolutionize the media industry by verifying the chain of transactions for a given titles, even if there are thousands of versions out there thanks to IMF. But for now, in this sector blockchains are just a dream.
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