Some say it will be as big as the internet, so what exactly is Blockchain?
We’ve been told that Blockchain is set to transform financial transactions and thus the world of corporate reporting. It’s predicted to be as big as the internet, but what exactly is it and how could it affect all of us?
Blockchain is a type of database known as a distributed ledger that operates on a consensus basis. Whenever a user submits a new data block to the blockchain, the majority of other users must confirm that it is valid. The database does not have a central administrator.
Read the full article and watch a video which explains what blockchain does, how it works and the ways in which it will affect us all:
Blockchain and the future of audit
Blockchain video
A Blockchain A-Z of useful articles, explanations and analyses of the key issues, aspects and concerns of blockchain technology and distributed/shared ledgers; and their current and future potential in banking & finance, law, government and commerce.
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