Enter The Blockchain: How Bitcoin Can Turn The Cloud Inside Out

Beyond the hype and the greed, Bitcoin is powered by a genuine technical breakthrough, to a degree I did not properly appreciate when I first started writing about it. The “blockchain” — the engine on which Bitcoin is built — is a new kind of distributed consensus system that allows transactions, or other data, to be securely stored and verified without any centralized authority at all, because (to grossly oversimplify) they are validated by the entire network. Those transactions don’t have to be financial; that data doesn’t have to be money. The engine that powers Bitcoin can be used for a whole array of other applications…
READ MORE: http://techcrunch.com/2014/03/22/enter-the-blockchain-how-bitcoin-can-tu...