The All-Pervasiveness of the Blockchain Technology

Abstract

Conceptually, the blockchain is a distributed database containing records of transactions that are shared among participating members. Each transaction is confirmed by the consensus of a majority of the members, making fraudulent transactions unable to pass collective confirmation. Once a record is created and accepted by the blockchain, it can never be altered or disappear. Nowadays the blockchain technology is considered as the most significant invention after the Internet. If the latter connects people to realize on-line business processes, the former could decide the trust problem by peer-to-peer networking and public-key cryptography. The purpose of this paper is to consider on distinct use cases at the all-pervasive impact of the blockchain technology and look at this as an inalienable part of our daily life.