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Background III—What Is Blockchain Technology?

  • Hofmann E
  • Strewe U
  • Bosia N
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Contrary to the current systems, with BCT, transactions are broadcasted, recorded and stored by many participants of the network and not in any central proprietary server, which allows transactions to be finalised in minutes because no reconciliation or any manual intervention is needed in the background. Further improvements of the technology offer the capability of implementing a broader range of software routines, including the entirety of what is offered by mere token systems, which opens up the possibility of also representing financial securities and instruments directly on the distributed ledger.




Hofmann, E., Strewe, U. M., & Bosia, N. (2018). Background III—What Is Blockchain Technology? (pp. 35–49).

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