Education

What is Blockchain? Three simple points to explain it to everyone.

Discover how blockchain simplifies digital trust and security, revolutionizes credentialing systems, and empowers global verification in this insightful blog post.


 

Blockchain

Did you understand anything from the image above? Me neither.

When asked about blockchain, many of us react with a puzzled 😬. The standard definition—"a decentralized, distributed ledger technology that records the provenance of a digital asset using cryptography"—often sounds overly technical and hard to grasp. That's why I've broken it down into simpler terms, using everyday examples to clarify this innovative technology.

Three years into my journey with Web3, I've found a way to explain blockchain that even my tech-savvy grandma appreciates. Here’s how I usually describe it:

1. Imagine a Public Cloud

Think of the blockchain as a public version of your iPhone's iCloud. It's a space where anyone with an internet connection can upload digital files—whether they're pictures, videos, documents, or even digital currency—and transparently see what others have shared. This accessibility makes blockchain both democratic and inclusive.

2. Collective Control

Unlike traditional databases controlled by single entities, blockchain operates through collective control. Every participant in the network has a say, and decisions are made by majority consensus—requiring over 51% agreement. Furthermore, thousands commit daily to maintaining its security by downloading and storing offline copies of the entire database, enhancing its decentralization and security, and making it incredibly challenging to hack.

3. Immutable and Permanent

Once information is added to the blockchain, it is permanent. You cannot alter or remove it; it becomes an immutable record that stands as an unbreakable source of truth forever. This permanence assures that the blockchain is transparent and, therefore, exceptionally trustworthy.

Why Blockchain is a Game-Changer for Credentialing Systems

Blockchain's unique capabilities extend significantly into credentialing systems, where it is set to revolutionize how qualifications are verified and managed. In education and professional fields, blockchain can securely store credentials such as degrees, certificates, and professional licenses. The immutable nature of blockchain prevents the falsification of records, ensuring that credentials are authentic and verifiable anywhere, anytime. This is particularly crucial in a globalized world where validation of credentials across borders is often cumbersome and fraught with inefficiencies. Blockchain simplifies these processes, not only enhancing security but also increasing the speed and accuracy of verifications at a lower cost.

In conclusion:

Next time you’re faced with the question, "What is blockchain?" remember it’s as simple as explaining a public cloud, a community effort, and an indelible record. Blockchain technology doesn’t just represent a shift in managing digital assets; it embodies the democratization of digital trust and security. With its application in credentialing, blockchain is poised to make significant impacts by providing a robust, transparent, and secure system for managing credentials globally.

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