What’s A Blockchain, Anyway?

“Please explain it like you would to an eight-year-old”

Why It Matters

Blockchain offers a new model, and freedom from traditional structures. However, it’s not without its limitations.

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This week, we spoke with Anne Connelly, blockchain and social impact expert and faculty member at Singularity U. Here are some highlights from the conversation.

BLOCKCHAIN BASICS

Blockchain is a technology that enables people to transfer value peer-to-peer without a third party at a scale that was never possible before. For example, today, if we want to digitally send money to a friend, we have to use a third party to make it possible: banks, Western Union, or PayPal. This costs money and adds risk.

WHAT SOCIAL OUTCOMES CHALLENGES COULD BLOCKCHAIN TECHNOLOGY HELP ADDRESS?

A3: The main social outcome benefit of

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