From the course: Foundations of the Fourth Industrial Revolution (Industry 4.0)

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Blockchain, cryptos, tokens, and NFTs

Blockchain, cryptos, tokens, and NFTs

From the course: Foundations of the Fourth Industrial Revolution (Industry 4.0)

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Blockchain, cryptos, tokens, and NFTs

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- In 2008, the paper, "Bitcoin, a Peer-to-Peer Electronic Cashless System" was published. It introduced the remarkable world of cryptocurrencies. In the opening years of the fourth industrial revolution, it seems appropriate that digitalization would finally disrupt money. And while it's still early, crypto is having its moment, and creating quite a lot of noise in the global financial system. Surprisingly though, building Bitcoin resulted in an unanticipated technological twist. Its core enabling technology, the distributed ledger, which we now refer to as blockchain, became a compelling utility for uses outside of cryptos. I'll explain. To function, Bitcoin requires a database of validated transactions. These transactions record and store the activities of Bitcoin users, such as sending or receiving money with others. Unlike traditional databases, this system has unique capabilities, such as immutability.…

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