Blockchain and Bitcoin!


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What is it?

  • Blockchain is, simplified, a database of a growing list of records.1
    These records are knows as Blocks.
  • In cryptocurrencies these blocks represent the transfer of currency.


  • A whitepaper that was published in 2008 detailed a method of creating a cryptocurrency using a distributed database architecture.2
  • Blockchain tech comprised of 3 technologies used together:3
  • Public key cryptography
    • Method of encrypting communications where the sender uses a public “key” to send a message, and the only way to decrypt the message is with the recipients private key. Also known as asymmetric keys.
  • P2P Network
    • “Peer-to Peer” is when two computers share information without passing through a third party computer.5
    • This is like me handing you cash vs. depositing it into the bank, then writing you a check which you later cash.
  • And Protocol
    Basically rules or the program that runs the blockchain.



  • As of December 2017 Bitcoin is valued at TEN times the value it had at the start of the year.
  • Trading cryptocurrencies has become the new investment frontier.
  • While cryptocurrencies can be used to purchase good, they are also considered property in and of themselves.
  • Many people trade the currencies much like you would with stocks or the Forex Market.
  • These currencies work using blockchain, or a ledger of every transaction ever that are registered and maintained my miners who get rewarded in bitcoin for doing the work.

Contracts and Business

  • There is a newer concept of “Smart Contracts” which use blockchain to execute contracts, in that payment is dependent on the completion of deliverables or objectives.
    • These contracts execute on their own, which is far more efficient than a team of lawyers faxing documents.6
  • Healthcare:
    • Data Security7
      • Decentralizing health records and ability to prove identity.
      • Verified users could ADD data, but not remove or edit.
      • Automation
        • See Smart contracts.
      • Health Records
        • Researcher could gain access to literally every patients records without any identifying information, and patients could be selected for trails, again, without ever having their identity disclosed.



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