The Blockchain is not a new technology. We can define blockchain as a amalgam of proven technologies applied in a new way. It combines the Internet, asymmetric, cryptography and governing incentivization to cater information registration and distribution that eliminates the need for a trusted party.
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This is moving in the right direction and we should be happy that we will receive more independent judgement from now on and there will be a well needed learning opportunity for all of us.
Thanks for your thoughts @irfanullah