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ARTICLE · 23 NOVEMBER 2018

Blockchain: Background, Challenges And Legal Issues From A Corporate Viewpoint

Gardiner Roberts LLP
Gardiner Roberts LLP
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What is Bitcoin?

CanadaTechnology
Arlene O'Neill
Arlene O'Neill
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Introduction

History of Bitcoin and Blockchain

  • What is Bitcoin?
  • a type of unregulated digital currency created in 2008 with the intention to bypass government currency controls and simplify online transactions by getting rid of third‐party payment processing intermediaries

Blockchain

Background

  • What is Blockchain?
  • Blockchain is an open, decentralized ledger (which means it is not controlled by any single governing entity) that records transactions between two parties in a permanent way without needing third‐party authentication
  • It is a distributed database that maintains a continuously growing list of ordered records, called "blocks"
  • it is a combination of proven technologies applied in a new way.

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