Blockchain Technology

Blockchain Technology

Author: Young Professionals in International Relations September 6, 2016 Duration: 18:42
Matters of State - Underreported Issues in World News & International Relations
GovernmentEducation
Cryptocurrencies from Bitcoin to Ripple were hot topics in 2017, but how much do you understand how they work? Blockchain technology is a rapidly expanding industry that underpins these cryptocurrencies. As this data architecture grows, it may spread to transform how other sectors process and store data. This conversation on the blockchain was originally published in September 2016 but, given the meteoric rise of some cryptocurrencies in 2017, we decided to repost it.What is Blockchain? A blockchain is a distributed public ledger of all transactions and items that are contained within a record. Every transaction is visible to all users in chronological order. It also allows access to any internet-connected device, making this technology accessible to billions of devices worldwide. Bitcoin: A Digital Currency The world’s most popular digital currency, Bitcoin, uses blockchain technology. Users execute financial transactions using anonymous accounts, with all transactions publicly recorded on the blockchain. To ensure validity and security of digital transactions, bitcoin pays “miners” a small sum to verify transactions. Bitcoin users’ anonymity has presented problems to law enforcement. Bitcoin can be used as a platform to purchase illegal items or facilitate illicit activities (including terrorism) because there is no reliable way to track the users. This issue makes it difficult for traditional financial institutions looking to emulate its model. The Future of Blockchain Some companies are using blockchain for non-currency purposes.Bitfury is an IT company that develops and delivers software and hardware solutions to ensure its clients access to the blockchain. Specifically, it employs blockchain to give clients secure and efficient asset transfer capabilities. Blockchain’s ability to execute and track transaction can be applied to several other functions. For instance, it could transform international aid monitoring by giving public access to where and when program money is being dispensed. Blockchain technology could revolutionize the internet as people find more ways to employ it.   Dig Deeper Take a look at some of our favorite articles that we came across while researching this topic: * How the Bitcoin protocol actually works, Michael Nielsen, Michael Nielsen blog * Bitcoin and the Future of Blockchain in International Payments Systems, Frances Coppola, American Express * CIO Explainer: What Is Blockchain?, Steven Norton, Wall Street Journal

Every Monday, a conversation unfolds that moves beyond the day’s headlines. Matters of State-Underreported Issues in World News & International Relations is driven by the curiosity of the Young Professionals in International Relations, a group of analysts and graduate students who dig into the global stories that aren't making the front page. Each episode feels like pulling up a chair with friends who are parsing complex geopolitical shifts, regional tensions, or economic developments simmering beneath mainstream coverage. The discussion is informed but accessible, grounded in their ongoing study and work. Periodically, they bring in seasoned diplomats, aid workers, or researchers for candid interviews that shed light on what this work actually looks like on the ground. This podcast offers a deeper, more nuanced take for anyone feeling that the usual news cycle is missing crucial context. It’s a weekly dose of perspective, released to accompany your Monday routine, that encourages you to look closer at the forces shaping our world. They actively invite suggestions for future deep dives, making it a collaborative space for uncovering the issues that truly matter.
Author: Language: en-us Episodes: 100

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Matters of State - Underreported Issues in World News & International Relations
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