A second Coldfusion video briefly describes Bitcoin and explains at some length, what else the Blockchain/Distributed Ledger Technology could also be used for.
After a break we had a closer look at the nuts and bolts of Bitcoin, including cryptographic hashes and double key digital signatures. The application of Distributed Ledger Technology to Australia’s ASX was also considered and the reasons why it was different. For example the ASX implementation is highly centralised and not peer to peer, it is not immutable, that is entries can be edited, and also there are legal aspects together with the fact that the required throughput is hundreds of thousands of transactions per day which Bitcoin’s Blockchain cannot match.
Many commentators liken the introduction of Bitcoin and Blockchain of equal importance to the introduction of the internet.