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What is Blockchain? Where and how is it used?

First written in 2008 by a person named Satoshi Nakamoto or by people, Blockchain, which we heard together with Bitcoin cryptocurrency, perhaps it is considered by most people to be a crypto currency like Bitcoin. In fact, Blockchain is a technology that came to the fore with Bitcoin. Currently, the most popular area of use is crypto money, but owing to its innovative technological possibilities, it can be used in many areas. In the social media, Cahit Zarifoğlu ‘s words: "The real trick found in clouds, but everyone wrote poetry to rain. " is a perfect example of the relationship between Bitcoin and Blockchain.

What is Blockchain? Where and how is it used?

What is Blockchain?

The simplest definition of the blockchain in Turkish, is a digital cash register with a time stamp which is not connected to any central system, providing follow-up of encrypted transactions, followed by a distributed database in which data is approved by registered users in the system, as understood from its name, it is a chained model that is lined up one after the other.

In any transaction, for instance in car sales, information such as the identity of the buyer and the seller, the status of the car, etc. are encrypted and a block is formed. This information block is distributed to all users in the system. This information block, which is verified by unanimous vote of users, is added at the end of the previous block. The most important feature of Blockchain technology is that it has a decentralized verification system. That is, there is no need for a third party (notary) between the person selling the car and the person purchasing it.

What is Blockchain? Where and how is it used?

A Machine of unique Security and Transparent Structure

These transactions are sent to all users in the system and everyone has the same information. Anyone in the system can examine all the blocks of information that have accumulated up to this time and go through it. However, since the encrypted identities of the parties are used, it is unknown or unpredictable who the buyer and the seller are. In this respect, Blockchain technology allows parties to remain anonymous.

Potential areas of usage

Blockchain facilitates the transfer of money without intermediaries, and can offer new technologies, opportunities in other areas of our lives. For example, all communication platforms are managed by an institution or an organization. The calls we make with mobile phones, the e-mails we send over the internet, and all our social media accounts are connected to a central office and can be intercepted when requested.

With a communication platform to be developed using Blockchain technology, our messages, our conversations, can become completely secure.

Or by entering an artistic frame, a drawing or a song into a copyright system developed with the blockchain, we can instantly confirm that this content belongs to us, and we can get the patents of our projects, our works, without depending on any Patent Office.

What is Blockchain? Where and how is it used?

A country held the world’s first Blockchain-Audited Presidential Vote.

For the first time in the world, a country has integrated blockchain technology into the electoral process. African country Sierra Leone became the first country to use blockchain technology to verify votes in the election on March 7, 2018. The Blockchain technology has reduced the possibility of shaping elections around the world.

Blockchain is a technology that allows many businesses in many sectors to conduct their work-related activities more efficiently, more effectively and cost-effectively, in a way that is safe and encrypted, without being connected to a center.