Blockchain: Legal Regulations vs. Utility

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In simple terms Blockchain is a huge digital database running on the Internet for recording various types of information. It represents a performant distributed technology tool for keeping unaltered information about any kind of transactions or any other information, providing a reliable degree of trust that information will be secured and unaltered. In case of blockchain, each participant maintains, calculates and updates new entries into the database. Before a transaction is considered valid, it must be authorized by each participant of its constituent nodes through the consensus process. When it comes to information about commercial transactions they are cryptographically validated and data are not under the control of any third party person or entity. All information is recorded in a database which is verifiable, secured and transparent having a timestamp. >>>Read more