Duration : 01:53:41
Silvio McCauley, a computer scientist at MIT and founder of the cryptocurrency company Algorand, explains blockchain as a decentralized common database, which allows anyone to write an entry in a page with the certainty that everyone has the same copy. He highlights the extraordinary aspect of a common knowledge ledger with a guarantee that everyone can write, nobody can erase, tear a page, or swap a page, making it immutable which is extremely powerful when it comes to a decentralized spirit that is resistant to centralization. He also notes that the blockchain technology has the potential to transform the fabric of civilization. In the context of blockchain, cryptocurrency is a currency that is on such a ledger.