Your questions about blockchain⛓
Your questions about blockchain⛓
We have curated this document to answer 8 of your questions on blockchain fundamentals
Many thanks to Peter, Alastair, Esohe, Eileen, Mansoor, Leah and Daniel for your insightful questions during last week’s session! Click the links below to listen, watch and read our answers.
It's not clear to me how blockchain is better than existing technologies. When we think about electronic banking or mobile money, what value does blockchain add? 📲
Am I right in thinking that the chain/link is simply a communication pathway for verifying data? Does it serve another function? 🔗
What are the privacy and ethics concerns with rolling out blockchain in development contexts? 🕵️♂️
A digital identity system can provide an immutable and secure identity that is uniquely linked to a person’s biometrics, such as their fingerprints and iris scans, which could allow refugees to cross a border or access vital aid. But however privately personal information is stored, it depends who has access to it and whether they could expose refugees to exploitation now or in the future. Learn more 👇
🎧 A podcast: Building a More Ethical Blockchain (22 mins)
📖 A short, practical read: Inside the Jordan refugee camp that runs on blockchain
📚 Something longer: The blockchain ethical design framework
What infrastructure is required to maintain blockchain systems? Clearly computer capacity, energy, anything else? 🔋
If I am participating in a transaction, am I also a node? I presume that I'm not a node for everyone's transactions everywhere as that would place a load on my computer? 👨👨👧
What is the difference between blockchain versus cryptos (i.e. bitcoin)? They seem to be discussed interchangeably, whereas they are different things? 💰
Blockchain is the technology which cryptocurrencies are built on, but they are heavily intertwined because blockchain was originally created to support the invention of cryptocurrencies by Satoshi Nakamoto in 2008, with other uses emerging since.
Learn more in this short, animated video 📺
Can you give an explanation on the difference between a permissionless and permissioned blockchain? 🙅♂️
Is blockchain data impossible to change once added? 🤔
Want to catch up on everything else we covered? You can watch the 45 minute session here 📺