Visualizing ideas often help you understand a concept much better. This video will walk you through how the blockchain/Bitcoin works. What is most interesting in this video is that it shows you that the blockchain can be used for so many more things than just money or currency. Here are just some examples:
- Purchases
- Health Care
- Insurance
- Trust funds
- Elections
- Budget allocations for a company
The good thing with the blockchain technology is that it will remove existing middlemen such as banks, insurance companies, accountants and perhaps the best part, governments.
Finally, this video can be shared with people who have a low knowledge of the blockchain and cryptocurrencies. It is very easy to understand:
Enjoy!