Blockchain explained: Breaking down the technology that’s transforming the world of finance
When you think about blockchains, probably the first thing that comes to mind is Bitcoin or cryptos. But actually, the technology is extremely versatile and has potential far beyond cryptocurrencies. Blockchains have become popular over the past few years because they allow us to secure and verify all kinds of data in a decentralised network that cannot be altered. The idea has its roots as far back as 1991, when two computer scientists, Stuart Haber and Scott Stornetta, proposed a system to protect timestamps on documents from being interfered with.