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RE: BLOCKCHAIN FOR DUMMIES - what would be your explanation? [question from my recent interview]

in Project HOPE4 months ago

Hey there, what a coincidence, I was helping a friend with her interview at a blockchain company. My explanation of target crash course for her was two fold, the why and the what

The why :
All disruptive tech revolves around cutting out the middle man. If you can cut them out, you can make a pretty good business out of it. That's what bitcoin is, cutting out the middle man which in this case, is the bank. That's what some other projects are built around too. In a sense, steemit is Facebook without Facebook Inc if that makes any sense.

As for the what, blockchain essentially a record keeping tool, a ledger. But it's magical record keeping tool of who spends what. This record is also distributed over the internet and it can't be shut down unless you kill the internet?

Then we went into how this can be applied into local SMEs but that's a story for another time. Hope that helps!

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 4 months ago 

Love your explanation @alvinauh :)

Big thx for taking the time to drop this comment