Showing posts with label Digital Currency. Show all posts
Showing posts with label Digital Currency. Show all posts

As the Bitcoin and Blockchain craze take root in Nairobi, here is a simple explanation of the two.


Nairobi is a buzz with the words; "Bitcoin", and "blockchain". But many can't really figure out how the two are related or what exactly is a bitcoin. I went to the web to find the best explanation of the two and found Professor Shai Rubin's  explanation. 

Professor Rubin explains that Bitcoin is not blockchain. Bitcoin is a digital coin, whereas blockchain is the technology that allows movement of digital coins from one party to another. Digital currency is just one of the many applications of the block chain technology.  Blockchain like any other new technology seeks to solve an existing problem. The following are the problems that blockchain seeks to solve;