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Digital Subscriptions > Family Office Investor > Issue 5 > What you really need to know about BLOCKCHAIN

What you really need to know about BLOCKCHAIN

It is probably one of the most heard and used words today, and also one that it is being labelled as a disruptive technology for many industries. But the chances are, you probably do not know enough about it, or realise the profound impact it could have on the future. Gianluca Massini Rosati, founder and CEO of Xriba explains blockchain in plain language.

The term blockchain in many ways is very nerdy. It describes exactly what it is: a chain of blocks.

Every block contains some information, just like the page of a registry: you start writing from the first row of the page and when you get to the end of the page there are no more rows, so you need to start a new page of the registry if you want to continue. Each block is like the page of a registry and is linked to the next one by a chain that locks every single block together. One block can be connected only to a new one. There is no way to hack the system and when a piece of information is written in a block no one can change it - as if it was engraved in the rock.

That is where the term ‘blockchain’ comes from and there is no underlying marketing thought behind it whatsoever, we just need to embrace the “nerdiness” of the terminology.

“Blockchain is going to change the way the financial world operates.”

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