Introduction to Blockchain Technologies
Joseph H. Holbrook · 2020
A blockchain is the platform for cryptocurrencies and is the “enabler” for Bitcoin; Bitcoin is the application (cryptocurrency) that is being “enabled.” This chapter aims to break down blockchain technology for a sales-driven and technically focused audience. It discusses the technical merits of blockchain technology in a simple manner with direct correlations to how it applies to business. The primary solution that blockchain technologies really provide as compared to a traditional database is around the distribution of trust. The nodes in the blockchain network in permissionless (enterprise) blockchains have a copy of the whole blockchain. The principles of blockchain have renewed trust in users in an era of digital economics and intrinsically fair social systems. For enterprises, the blockchain disruption will take place because it provides capabilities around compliance, cost efficiencies, or even transparent transactions for the customer base. The chapter covers blockchain types and deployment concerns and also compares blockchains to cloud computing services.