Hello there, fellow avocado lovers and blockchain enthusiasts!

In this blog post we’re going to discuss the Blockchain – the what and the why:

The Blockchain is a revolutionary technology that offers a new paradigm in the way in which data is stored, allowing information to be distributed, codified and decentralised thanks to its distribution among millions of user computers around the world, with each one being an independent node. These computers (nodes) are responsible for registering and validating the information anonymously, preventing this information from being modified or deleted by an interested third party.

As we can see, the basis of blockchain is the consensus that is produced between each and every one of the computers that form part of the network by sharing the same information and accepting it as valid.

Explained with a real-world example, blockchain could be likened to a ledger used by a company to record all its sales and purchases. This ledger would be closely connected to the ledgers of other companies, and if the records of purchases and sales between companies were to coincide, this would make them official and thus there would be no need for any regulator to endorse and validate the information.

Other examples include  various industries such as food (where food waste can be reduced), automotive (where the quality of items is monitored during the production stage), healthcare and logistics (hospitality (where items are located in real time, thanks to the accuracy of digital identification).

Last but not least, the blockchain is the technology responsible for the emergence of cryptocurrencies in 2009, with Bitcoin leading the way in terms of relevance and importance among users of this type of cryptography. Moreover, the benefits of blockchain do not stop there, as it also creates other types of value, such as the so-called tokens, which are units of value that companies create so that their users can interact with their products (for example, a shopping centre where you can purchase your own tokens and then use them in their shops to pay).

Without a doubt, as we have seen, the future of blockchain promises good prospects, as does that of cryptocurrencies, due to their close relationship and dependence.

                                                                                              May the power of the green gold guide you!