January 14, 2018
Blockchain is a relatively new type of technology, dating back to just 2014. However, today, bitcoin, which is a cryptocurrency that utilizes blockchain technology, is issued every 10 minutes and currently there are over 21 million bitcoins in rotation.
Blockchain is an open, decentralized ledger that is able to record transactions between parties effectively in a permanent and verifiable way without having to use the central authority. Many investors are taking notice, because this form technology is providing a new type of currency, which is completely independent of a centralized bank.
In an effort to help “regular” people better understand blockchain technology, it is the new focus on the public television series, “Success Files,” hosted by award winning actor Rob Lowe. To date, this show has covered a number of new and emerging technologies, and received several accolades due to the high-quality, accurate content created and produced.
Experts, investors and others have claimed that blockchain technology is truly revolutionary and has the potential to significantly reduce the cost of transactions, just like the protocols of the internet helped to reduce the cost of a connection. For example, with a traditional stock exchange, the actual transaction is completed in seconds; however, the ownership transfer can take up to a week. This is because the parties don’t have access to one another’s ledgers, which makes automatic verification impossible. Blockchain eliminates these long wait periods.
The “Success Files” series can be seen on a wide array of PBS Member stations around the nation, featuring a new topic, technology and innovation regularly.
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