BlockchainToGo was founded by APILANi as an initiative with the aim of making blockchain technology understandable and usable for everyone. Above all, Sustainability, Economy and Meaningfulness are put to the test.
The "Blockchain" ...
is essentially a distributed database (also known as "Distributed Ledger") in which successive business transactions (transactions) are strung like pearls on a string. If the cord breaks in one place, the entire blockchain is broken. Every business transaction has two or more participants (actors). A new link in the chain always arises when two or more actors have to agree on a business transaction. They do this according to a pre-established consensus mechanism. Whether a new business transaction is actually inserted into the blockchain is determined by the verification of the consensus mechanism, which we will come to in the following.
Not only the content of a transaction, but above all the order of successive transactions is essential and must be clearly recorded and cannot be changed afterwards. This is the only way to protect the blockchain from misuse. A blockchain, for example, would be completely useless if it allowed the booking of transaction-2 (sale of the shares) before booking of transaction-1 (purchase of the shares) when trading stocks. So I could sell stocks that I don't even own. The consequence would be chaos of unspeakable proportions.
Therefore, all parties involved in a business transaction must work together to ensure both data integrity and the correct sequence of postings.
How does this help me?
Take stock trading: if the blockchain allows me to do transaction-2 (sell the shares) before transaction-1 (buy the shares), then I could sell shares that I don't even own. The consequence would be chaos of unspeakable proportions.
Therefore the order of the bookings plays an important role. And that is why all the actors involved in a business transaction must work together to ensure both data integrity and the correct sequence of postings.
The blockchain is protected from subsequent changes, is that a good thing or a bad thing? What are the consequences of this? Let's talk about this later.
Free at last ...
Why and who wanted the blockchain at all?
The usual discussions about the meaning of the blockchain are fueled by the desire to act self-determined. We don't need a supervisory authority telling us when a transaction is correct. We also don't need a bank that earns money with every money transaction and also determines how long the transfer of the transaction takes. It has to be different in the age of digitization.
If we manage to reach consensus as a community, then we can abolish the "intermediary". Then nobody earns any more from our bilateral business dealings.
The "blockchain" or rather the "blockchain technology" (there is not only one blockchain) has a liberating effect. The actors involved in a business transaction can finally determine the rules according to which they want to do business. There is no superordinate authority that specifies the rules and therefore has to be involved in the business process in monetary terms.
The price of freedom ...
Is the intermediary just bad? Admittedly, the bank always makes a profit, but it also gives the respective actors a feeling of security through the trust it enjoys (has earned) as an intermediary. After all, nobody doubts that a share in my securities account was actually bought and paid for beforehand by me through the bank, since otherwise it wouldn't be in my securities account.
With blockchain technology, security and trust must be worked out again with every transaction - as a price, so to speak, for freedom. Blockchain technology creates trust among strangers. How can you imagine?
What does trust mean in a digital context? Does that mean everything is safe and nobody can manipulate? Everything runs as agreed between the contracting parties. The agreement was made once and subsequently not unilaterally changed.