Originally built as a way to secure cryptocurrency transactions, blockchain is a digital platform that verifies and records exchanges. Blockchains are global networks that can have millions of users, each adding information or data that is secured through cryptography. This creates an indisputable history of these transactions that cannot be modified by a single user, eliminating opportunities for fraud, and it is this feature that has some heralding blockchain as a way of increasing cybersecurity.
Management Sciences professor Lukasz Golab and his colleagues in the Cheriton School of Computer Science are looking to understand the full potential of this emerging technology and determine if blockchain can live up to the hype and reduce its intrinsic connection to cryptocurrencies like bitcoin. Is it a safe bet for data transfer applications in government, business, health and finance?
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