Blockchain for more than just cryptocurrency

Ben Mann, IBM, COO East Africa,

Blockchain is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority. These are some of the attributes that makes blockchain perfect for trading cryptocurrencies, but while this is a major use case it is not the only one.

This was made clear by Ben Mann, IBM, COO East Africa, during his presentation at the CIO 100 event in Naivasha,Kenya. Mann described blockchain as a “tool for creating trust” said that it is being and blockchain is being used to create new networks and value in various sectors.

He gave various use cases of blockchain including:


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