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Submission: On November 05 via manual from MA — Scanned from DE
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* About * Contact Request A Call * Our Expertise Topics With unique access to the latest industry news, insights and analysis, we deliver highly relevant and engaging learning programmes with a lasting impact. 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Learn the basics of blockchain technology and why it can enhance trust in both record keeping and financial transactions. Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger. The decentralised database managed by multiple participants is known as Distributed Ledger Technology (DLT). Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature called a hash. This means if one block in one chain was changed, it would be immediately apparent it had been tampered with. If hackers wanted to corrupt a blockchain system, they would have to change every block in the chain, across all of the distributed versions of the chain. Blockchains such as Bitcoin and Ethereum are constantly and continually growing as blocks are being added to the chain, which significantly adds to the security of the ledger. WHY IS THERE SO MUCH HYPE AROUND BLOCKCHAIN TECHNOLOGY? There have been many attempts to create digital money in the past, but they have always failed. The prevailing issue is trust. If someone creates a new currency called the X dollar, how can we trust that they won't give themselves a million X dollars, or steal your X dollars for themselves? Bitcoin was designed to solve this problem by using a specific type of database called a blockchain. Most normal databases, such as an SQL database, have someone in charge who can change the entries (e.g. giving themselves a million X dollars). Blockchain is different because nobody is in charge; it’s run by the people who use it. What’s more, bitcoins can’t be faked, hacked or double spent – so people that own this money can trust that it has some value. UNDERSTANDING LIBRA Understand how Facebook leveraged specific aspects of blockchain technology to launch a new cyrptocurrency called Libra, and its potential impact on the banking and finance sector. DOWNLOAD BLOCKCHAIN EXPLAINED Jump to another blog post in the Blockchain Explained series by clicking one of the tiles below. * How transactions get into the blockchain Understand the process to authenticate and authorise a transaction blog post 3 minute read * The difference between blockchain and Bitcoin Many people wrongly conflate the two. Do you know the difference? blog post 3 minute read * The risks with public blockchains Understand the three main risks associated with public blockchains blog post 3 minute read * How blockchain data is stored and secured As more and more blocks are added, how does the data remain manageable? blog post 3 minute read * The rise of private blockchains What companies are using private blockchains today and why? blog post 4 minute read EUROMONEY LEARNING ON-DEMAND POWERED BY FINANCE UNLOCKED The world's first on-demand video learning platform designed by finance professionals, for finance professionals. Euromoney Learning On-Demand is a comprehensive, high quality and engaging video learning platform covering all areas of banking and finance from fundamental concepts to advanced theory FIND OUT MORE Demo Videos BLOCKCHAIN AND FINTECH COURSES Euromoney’s FinTech training courses are led by world-leading experts and cover a variety of topics including private and public blockchains, cryptocurrency, alternative fundraising strategies, and the role of AI, machine learning and big data in banking. Contact us about our bespoke Fintech training programmes via the form below. About us * About us * Contact us * Modern Slavery Act * Cancellation Policy Learning * Methodologies * Courses * * * Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. All material subject to strictly enforced copyright laws. © 2020 Euromoney Institutional Investor PLC. Course Sitemap: Financial | Other We use Cookies. If you're happy with cookies, continue browsing. 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