When Blockchain Became More Important Than Ever

A new peer-to-peer financial system was unveiled in a mysterious white paper in 2008 .

The technology invented to power this new system was called blockchain, and Nakamoto 's paper was its grand unveiling.

In this video, we'll talk about some exciting implications of this technology and the impact it could have on all of our lives.

The Bank of England has stated that the blockchain is a significant innovation that could have far reaching implications in the financial industry.

Six banks including Barclays, Credit Suisse and HSBC are all planning on making a single digital cryptocurrency to clear and settle transactions using the blockchain.

Bitcoin can only do 10 transactions per second , while MasterCard and Visa can do about 80,000 .

Microsoft is even getting in on the action by building a framework using the Ethereum blockchain.

Doctor Adrian believes that the blockchain is the next step of the Internet, a complete overhaul of how things in our world are going to be recorded, organized, and run.

In the future, he thinks artificial intelligence and the blockchain will be our future.

But there are still some downsides, such as malicious smart contracts that could clog up the entire system.