You may have already seen the term blockchain. In
recent years, this concept has gained scale, mainly due to Bitcoin and crypto
assets. It has been used for various purposes like business and process
optimization. After all, blockchain exists to bring more security and
transparency to data storage and transaction recording. Understand how it can
be effective regardless of the size and industry of your organization.
Actually, blockchain is as simple a concept as it
seems, but let's start at the beginning. In an English translation, blockchain
means a chain of blocks, but what does it mean in practice?
Basically, it is a technology that acts as a kind
of database, grouping information and linking them through encryption.
Blockchain acts as a digital accounting book or ledger, a collective
transaction recording system. That is, instead of storing your data in one
place, like a single computer, blockchain distributes it across many connected
This technology can record any type of
transaction, from financial transactions to real estate purchases. But don't
worry, we will discuss some more examples later.
Blockchain aims to make operations more secure.
It achieves this by having an immutable, transparent, secure, and decentralized
database, accessible to all users participating in the same blockchain network.
How was it
The first practical application of blockchain was
reported on October 31, 2008, with the emergence of Bitcoin. It is the first
cryptocurrency launched in the market and the most valuable digital asset in
On this date, the pseudonymous Satoshi Nakamoto
published an article entitled "Bitcoin: A Peer-to-Peer Electronic Cash
System". In it, this user presents how blockchain is being used to make
Bitcoin a reality. Shortly after Nakamoto disappeared from online discussion
forums, and to this day not much is known about his identity, and there is even
a possibility that he is not a single user, but a group of people.
Despite not being the same thing, blockchain and
bitcoin are very intertwined and many people may confuse their functions. To
help you, we can imagine it this way: writing was invented to facilitate
mathematical calculations, but today it is used for many other tasks besides
Why has it
become such an important technology?
We can agree that having access to information is
very valuable these days, right? Well, blockchain was seen as revolutionary to
update, optimize and bring more security to the way we store our information.
Through the decentralization of information
control resources, the immutability of recorded data, and consensus among users
about movement on the network, blockchain has become very relevant for
The technology is able to provide information in
real-time, in a completely transparent way, and still share it with any user
who wants to. The blockchain network has to relinquish control of all this data
without the organization responsible for it.
Thus, blockchain can manage payments, production
lines, and logistics systems, among others. Moreover, since all users have
access to the same transaction information and can verify its authenticity,
this process becomes very secure and efficient.
the blockchain work?
In very simple terms, blockchain works by
grouping data into blocks and linking them in a linear and chronological way.
Let's understand in more detail how this process works:
Record transactions as data blocks. These blocks
typically contain the block registration date and time, the number of assets
transferred, the parties to the transaction, and the block hash. We will
Obtain consent from participants that the
transaction is valid. This is done by miners, users connected to the blockchain
Connect the newly mined block to the previous
block, thus creating a chain of data about the resource you are tracking. This
is where hashes come into play. These are encrypted unique codes that act as
block identifiers. Each block contains its hash and the hash of the previous
block, making the process more secure. This creates an immutable chain of
information - a blockchain.
Please share information or accounts. All network
participants then receive a copy of the transaction and the updated blockchain.
With the development and development of
technology, it has become possible to create smart contracts or smart contracts
in English. They operate as programs within the blockchain that run according
to pre-established rules, further optimizing various processes.
With smart contracts, approving financing, for
example, becomes much faster. Analysis of the request is done automatically
according to your parameters and does not depend on external intermediaries,
such as a bank.
start a business with Blockchain?
This technology can revolutionize your
professional life and improve your finances. This article is for you if you
want to start a professional career related to blockchain and want to know how
to get started.
Blockchain is a technology that allows people and
companies to share information in a secure and transparent way. The process of
creating a new blockchain involves several steps. But they work together to
enable the system to store data and manage reliable transactions between users.
This technological platform is being used to
create new companies. Some of the Blockchain-based businesses are Bitwage,
Bitcoin Teller Machines, Ethereum, etc.
On the other hand, this platform is considered an
online transaction technology and value exchange, which becomes an effective
means of business financing. This is one of the main reasons why entrepreneurs
should consider starting a business with blockchain.
A blockchain business model can be defined as a
set of rules, regulations, and procedures that allow the integration of legal
requirements with the technical characteristics of the protocol and the value
of its participants.
They project a new way of creating value. A
business model through blockchain allows reducing both operational and
Technology enables the development of products
and services that previously did not exist or was too expensive, such as
instant transactions without intermediaries or decentralized systems without
physical servers, and can be considered the most profitable business in all of
The blockchain business model is based on the
idea that participants must trust each other. Not much is known about how
blockchain-based business models will work. But, there are some ideas that can
inspire entrepreneurs interested in such technologies.
The typical business model, which is the most
familiar and with which we are all familiar, is based on an intermediary acting
as the seller and buyer of a product or service.
In this case, the intermediary does not provide
any additional value to the client but simply plays the role of
"intermediary" so that they are able to sell their product or
service, in many cases without the need to use technology as a basis.
A traditional business model is a form of
organization that has been around since at least the Middle Ages. In this form
of organization, individuals come together to create a project that allows them
to benefit from the shared and cooperative use of resources.
For example, if you want to sell your home, the
first thing you'll do is hire a real estate agent. The agent is responsible for
finding buyers for the property and negotiating the final price with them. In
other words, what he does is provide services not available in the
decentralized market provided by blockchain technology.
For many entrepreneurs, the traditional business
model is what they know best. This means it is an idea for a new product or
service that tries to compete in the current industry and offer something
Blockchain-based business models combine the
advantages of traditional markets with the advantages of cryptocurrencies, such
as decentralization and security.
Traditional market commercial activities require
intermediaries to organize transactions between participants. In such a model,
entrepreneurs have to deal with the high associated costs as well as the
management and administration of the process.
Exchange and purchase of tokens
Entrepreneurs can use such models to create new
ways for their customers to buy and sell products and services. The system
works by issuing and selling tokens, which can be traded on the secondary
market like any other financial asset.
Investors buy tokens to earn a return when the
price rises. In this model, profits are attributed to token owners and not to
the blockchain project.
Creation of development platforms
Development platforms are websites that allow
users to build their own decentralized applications. Users can access the
source code and modify it to improve the system. Development platforms are an
important part of the blockchain ecosystem and offer an easy way to create new
services and products.
A few years ago, no one knew what this technology
was, and now it is present in all kinds of industries, where it is possible to
create decentralized and distributed systems based on mutual trust between
It makes it possible to exchange data and
transactions without intermediaries or traditional financial entities.