We often hear that Blockchain is an important technology that will change the world. But, what is it from a practical perspective? The answer to that is that blockchain is decentralized ledger technology that allows transparent and immutable record-keeping.
But what are these damn ledgers and why are they so important for mankind?
Ledgers or records are the most important invention of the human mind. Without it, there will be no organized farming, no recorded history, and no scientific process as we know it. Records are the foundation of every human subject from humanities and arts to mathematics and computer science. Much of the development of the world is owed to the right kind of record keeping. A record-keeping that is free from tampering and easily accessible around the world.