FYI | Bitcoin & Blockchain – How it will affect Libraries
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Pralhad Jadhav
Jul 26, 2017, 5:35:34 AM7/26/17
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Bitcoin & Blockchain – How it
will affect Libraries
Bitcoin is a cryptocurrency and a digital payment system
How Bitcoins work?
Bitcoin is a digital currency that is not tied to a bank or government
and allows users to spend money anonymously. The coins are created by users who
'mine' them by lending computing power to verify other users' transactions.
They receive bitcoins in exchange. The coins also can be bought and sold on exchanges with U.S. dollars and other currencies.
They receive bitcoins in exchange. The coins also can be bought and sold on exchanges with U.S. dollars and other currencies.
What is Blockchain
The blockchain is a relatively new technology used to verify and store
transaction records for online cryptocurrencies like Bitcoin.
How Will the Blockchain Affect Libraries?
Basically, the blockchain is about storing information in a distributed,
tamper-resistant setting. This fits well with the work librarians have always done,
that is, gathering, preserving, and sharing authoritative information.
Regards
Pralhad
Jadhav
Senior Manager @
Knowledge Repository
Khaitan
& Co
Upcoming Lecture | ACTREC - BOSLA Annual lecture series (125th birth anniversary of father of library
science, Padmashree Dr. S. R. Ranganathan) on Saturday, 12th August 2017 at Advanced Centre for Treatment,
Research and Education in Cancer (ACTREC), Kharghar, Navi Mumbai. (Theme | 'MakerSpace')
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