Part 4/8:
He explains that blockchain technology is primarily a method for implementing decentralized, global consensus, but the specific technological details—such as proof-of-work—are less vital to understanding its significance. Andreas emphasizes that the most intriguing aspect of blockchain technology is not just the chain or proof-of-work, but how these components come together to create non-national, independent systems capable of resisting censorship and coercion.
When encountering the term "blockchain," Andreas suggests it should serve as a prompt for deeper questions: What is the consensus algorithm? How decentralized is it? Is it open to innovation? Does it offer privacy?