AUSTIN (KXAN) — There are several SXSW events this year that are rooted in cryptocurrency, a digital currency in which transactions are verified and records are maintained through a decentralized system.
One event host is trying to use crypto to support artists and filmmakers.
Blockchain Creative Labs is the first blockchain sponsor at SXSW. The group is hosting a series of interactives during SXSW starting on March 11-13.
There are many questions when it comes to understanding this process. First of all, what is a blockchain?
A blockchain is a ledger of data or transactions that are coded into blocks. Each of the said blocks is made up of information that is verified and contains a unique signature. They are so tightly linked together that it’s hard to detangle them almost like piecing together legos.
Inside the blockchain are what’s called NFTs,…