The blockchain is a network that's helping us decentralize trade. Allowing us to do a lot of our transactions much more peer-to-peer directly, and lower our use of intermediaries like companies or banks. My goal today is to make everyone understand something about blockchain.
Blockchain Explained: Simple Analogy
When we were much smaller societies, you and I could trade in our community pretty easily. And as the distance in our trade grew we ended up inventing institutions. Uber, Airbnb, and Amazon these are just digital marketplaces and platforms that help us facilitate an exchange of value. But today we actually have a technology that allows us to trade one-to-one but at scale and it's called blockchain technology. You use an app or your computer to do it, instead of there being a company in the middle. What's helping you make that transaction is a bunch of software code, and so it's being run by all of these different computers that have like a node so they're all running the same software and guaranteeing your transactions as they happen.
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