The Core, Development, and Future of Blockchain Technology

Blockchain is very popular, and the stock prices of individual stocks with the concept of blockchain in the capital market are rapidly rising. The extent to which blockchain can bring technological impact to human society is currently unknown. However, the industry academia research community generally believes that we have only seen the tip of the iceberg of the potential value of blockchain at present. Some people say that blockchain technology will not only change technology and reshape industries, but also shake the existing order, traditional rules, and value systems of human society. Does blockchain really have such high value? We should perhaps calm down and carefully consider how blockchain can be applied in various fields and its role.

What is blockchain?

The core potential of blockchain lies in the characteristics of distributed databases and how they contribute to transparency, security, and efficiency. In the past, institutions used central data repositories to support transaction processes and calculations. The control over the database is in the hands of its owner, who manages access and update permissions to the database, which limits transparency and scalability, and makes it difficult for external parties to ensure that data records are not manipulated. Due to technological limitations, distributed…