blockchain made simple
Blockchain is the new kid on the block that everyone talks about. It seems to open huge new opportunities in aviation and travel alone.
Yet when asking what blockchain is all about, many people have difficulties to grasp it.
The shortest explanation: Decentralized network with a memory / therefore unchangeable /secure data transfer
Each time a group of transactions, known as a block, is resolved and proven true, it's added to the previously validated transactions, forming a chain of validated transactions. Thus the coined term "blockchain."
The best analogy to explain blockchain we have seen so far is part of the "what happens next" series that Quartz recently launched. They talk about the future of money - which is blockchain - and go back to a small village where ancient stones illustrate what blockchain is all about.