Illustrated Blockchain Issue 5 – How many people’s faces can you remember?

The illustrated blockchain has entered its fifth issue. This time we are going to discuss the topic of - How many faces can you remember? Isn't it interesting? What is your answer? How can blockchain be applied? Come and discuss with us.

In the tribal era, trust is difficult

There was an anthropologist who, when studying tribes, found that each tribe was kept within the range of about 150 people. This was because if there were more people, it would be difficult to remember them, and if you couldn't remember their faces, you couldn't feel close to them, and if you couldn't feel close to them, you couldn't build trust, and without trust, fighting and disputes between tribes would never stop.

In the Internet age, we are willing to trust strangers

In the Internet age, people are willing to trust and pay a clothing merchant thousands of miles away. Among the various ways to increase mutual trust among people, there is a powerful tool to save the "stranger trust crisis", which is blockchain.

Why should I trust you?

Blockchain is the core technology in the Bitcoin financial system. Its essence is a growing distributed settlement database that can perfectly solve the trust crisis in information systems. It originates from the following question: Why do you trust a stranger? Why do others trust you?

Rather than trusting people, trust technology. Blockchain brings intelligent trust

Blockchain uses "algorithm proof mechanism" to guarantee this trust. With it, all nodes in the entire system can automatically and securely exchange data in a trusted environment. Compared with other time-consuming and costly tool technologies, it can automatically match and enforce in real time, and the cost is very low. It is better to trust technology than to trust people. Blockchain technology brings a kind of "intelligent trust".

Government use for property registration

Honduras has been in turmoil, and government workers have been lazy, resulting in unclear registration or loss of records. This kind of wrangling is common around the world, so the Honduran government has established a new real estate contract registration and transaction system using blockchain technology. With the security encryption of blockchain technology, people no longer have to worry about their property rights being tampered with due to government corruption.

IBM develops consumer credit ledger

Another example is that IBM is studying the concept of "consumer credit ledger", which uses the network distribution characteristics of blockchain to cross-confirm consumer behavior.

Luxury jewelry industry for counterfeit identification

In the luxury goods and art markets, blockchain is also being used to authenticate products and detect counterfeit goods. A special report from the BBC shows that the diamond industry is already using blockchain to verify legitimacy.

Looking to the future

In the future, any information that can be digitized can be added to the blockchain. As long as the chain can be added, the ownership of the information can be clarified, protection conditions can be set, and transaction contracts can be automatically initiated and enforced. You don’t need to worry about trust verification and trust execution because the blockchain will help you achieve it.

Blockchain has always been a very abstract concept, and even senior experts find it difficult to explain it in a few words. If you still find it difficult to understand after reading the above, don't worry, the editor has pictures for you. The next issue will be more exciting.