Foundation Year: 2008
Type: Technology, Concept
Current State: Seed
A new type of distributed database that can store transactions between each 2 individual nodes that are part of the block chain data structure. The major benefit of this model is that transaction that are made are published across the distributed network almost immediately , it cannot be denied or modified once it was created. This framework that was invented and used first for bitcoin transactions seems to be more useful so far that the bitcoin itself. It can be used for different purposes in different fields, among them the financial industry that examining solutions based on blockchain as a platform to make money transactions between financial institutions around the world safely and cheaper than in traditional IT networks.
Blockchain is predicted to make a revolutions in many aspects as it will decentralize the power of many authorities in different business domains
about block chain and bitcoin June 2016