What is a blockchain?
A blockchain is an online register of transactions. The registration of these transactions does not take place in one central place but on a network of computers. Every transaction is controlled by the network of users, thus making misuse difficult. It creates a single truth for everyone. At the same time, the records that have been exchanged are secured using encryption so that persons who do not have permission to view the transactions are prevented from doing so.
How secure are blockchains?
There is still a lot of uncertainty surrounding the legal and regulatory framework in relation to the development of blockchains. Recording vulnerable and privacy-sensitive information in a blockchain raises various legal questions. Questions about security and trust which form the foundations of a blockchain and are crucial to having any chance of succeeding.