Blockchain is about trust and not just good for everything
How does the blockchain change the way end-users interact with and trust services?
The blockchain is just one system using distributed ledger technologies (DLT). All the transactions are registered in virtual ledgers – in this case, online servers, so that transactions are notarised and cannot be changed or removed. Having multiple ledgers makes the system decentralised and ensures there is no single owner of a single ledger manipulating it since every user has a copy of this constantly updated ledger. Besides cryptocurrencies like Bitcoin, the blockchain can be used for other systems like identification databases, smart contracts on the sale and exchange of digital and real assets, online purchasing systems, voting systems, and education.
About the Webinar
In this webinar, Dr. Joshua Ellul, Director of the Centre for Distributed Ledger Technologies at the University of Malta discusses:
- The basic concepts of decentralised ledger technologies.
- How blockchains are tooted within cryptocurrencies.
- How blockchain-based identity systems can improve real-world services that impact citizens’ well-being.
- How blockchain can be used to issue certificates that prove recipients have acquired credentials such as a university degree.
Key takeaways
- Blockchain provides transparency for governments who have issues of reputation and trust.
- With blockchain, there is no single central authority or owner of data. No one can manipulate data or cheat in the system if the software is written correctly.
- The way users interact with a blockchain system is similar to the way we access a web page through a web browser.
- A register (ledger) of certificates on the blockchain cannot be deleted or lost because of the nature of the blockchain, unlike a piece of paper.
Watch the Video
Watch Dr. Joshua Ellul discuss blockchain and its relevance to education in the webinar ‘De-Mystifying the Application, Deliberating on its Uses‘ that was chaired by Dr. Kirk Perris from the Commonwealth of Learning (COL) and facilitated by 3CL’s Director Dr. Alex Grech.
