|Decentralising transactions with the Blockchain|
Blockchain is a decentrally organised database that archives and manages an evergrowing list of transactions. Information on transactions is permanently stored in a database that parallely exists at all nodes of a peer-to-peer network. Blockchain provides autonomy for individuals away from ‘middlemen’ such as public authorities and banks. However, this decentralisation rapidly reduces current forms of regulatory control. Possible negative social and economic consequences become less predictable and manageable.