Why blockchain will change our lives (and revolutionize the economy in the process) | Science & Tech


Blockchain is a silent technology. Its practical applications aren’t as easy for ordinary citizens to visualize, when compared to the metaverse or artificial intelligence. And yet, it’s the foundation of a major economic revolution.

Before discussing blockchain’s potential, it’s best to define what exactly we’re talking about.

Its beginnings are linked to cryptocurrencies – especially bitcoin – but its journey is much longer and will produce important changes in payment systems. Most central banks are already working on their digital currencies. Meanwhile, logistics, the video game industry, or the world of investment are transforming as a result of tokenization – the concept of turning real assets into digital replicas.

Blockchain technology isn’t just a database: it’s a set of technologies that allow for the transfer of a value or asset from one place to another, without the intervention of third parties. In this sense, it proposes a new financial model, in which authenticity isn’t verified by a third party, but by the network of nodes (computers connected to…

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