Blockchain Expert Explains One Concept in 5 Levels of Difficulty.

Blockchain expert explains blockchain technology in 5 levels: child, teen, college student, grad student, expert. “I didn’t understand IoT, Big Data or Blockchain when I first heard these terms. Learn about them or get left behind.” ~SupplyChainToday.com

Blockchain is a decentralized, distributed database that uses cryptographic techniques to store and transmit data in a secure and transparent manner. It is most commonly associated with the digital currency Bitcoin, but it has many other potential uses as well.

Here is a summary of blockchain at five different levels of difficulty:

Basic: At a basic level, a blockchain is a digital ledger that records transactions in a secure and transparent way.
Intermediate: A blockchain is made up of a series of blocks, each of which contains a list of transactions. These transactions are verified and added to the blockchain through a process called “mining,” which involves solving complex mathematical puzzles.
Advanced: A blockchain is decentralized, meaning that it is not controlled by any single entity. Instead, it is maintained by a network of computers, or “nodes,” that work together to validate and record transactions.
Expert: A blockchain uses cryptographic techniques to ensure the security and integrity of the data it stores. For example, each block in a blockchain contains a unique “hash,” or digital fingerprint, that is generated based on the contents of the block and the hash of the previous block. This makes it difficult to alter the data in a blockchain without detection.
Master: In addition to its use in the digital currency Bitcoin, blockchain technology has the potential to be used in a wide range of other applications, including supply chain management, voting systems, and identity verification. It has the potential to transform many industries by enabling secure and transparent transactions without the need for intermediaries.

Supply Chain and Blockchain Quotes

“Blockchain technology isn’t just a more efficient way to settle securities. It will fundamentally change market structures, and maybe even the architecture of the Internet itself.” ~Abigail Johnson

“Listening to Bill Gates, Elon Musk and Stephen Hawking talk about artificial intelligence reminds me of the Jurassic Park scene where they talk about chaos theory.” ~Dave Waters

“I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.” ~ Jeff Bezos

“I don’t believe in process. In fact, when I interview a potential employee and he or she says that ‘it’s all about the process,’ I see that as a bad sign. The problem is that at a lot of big companies, process becomes a substitute for thinking. You’re encouraged to behave like a little gear in a complex machine. Frankly, it allows you to keep people who aren’t that smart, who aren’t that creative.” ~Elon Musk

“The following technologies provide supply chain capabilities that were not possible in the past: IoT, big data, blockchain, machine learning, deep learning and augmented reality.” ~EverythingSupplyChain.com