From the course: AI in Fintech Essential Training
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Cryptocurrencies and blockchain
From the course: AI in Fintech Essential Training
Cryptocurrencies and blockchain
- [Instructor] Perhaps no area of FinTech gets talked about more these days than blockchain, but what is blockchain? Well, the answer is that blockchain is really just a 21st century version of a very old tool, a ledger book. If you ever had one of those old accounting style ledgers, right, where you went through and you wrote one transaction or one item on each line, and you filled off a page for bookkeeping purposes, and then you flick the page, blockchain fulfills essentially the same function. The blockchain is a distributed, secure log file. What that means is that we've got many different people that can access this ledger book. The ledger book is protected by a super secure username and password, and it contains a complete record of every transaction that is ever recorded on the blockchain. Now, blockchain was first popularized as kind of the behind the scenes tool for Bitcoin, but the reality is that these days, it's grown far beyond that. Blockchain underlies virtually every…
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