{"id":10390,"date":"2016-09-28T19:07:37","date_gmt":"2016-09-28T23:07:37","guid":{"rendered":"http:\/\/www.analystik.ca\/blogue\/?p=10390"},"modified":"2017-05-26T14:01:48","modified_gmt":"2017-05-26T18:01:48","slug":"blockchain-bitcoin-fintech-its-a-brave-new-world","status":"publish","type":"post","link":"https:\/\/analystik.ca\/blogue\/language\/en\/blockchain-bitcoin-fintech-its-a-brave-new-world\/","title":{"rendered":"Blockchain, Bitcoin, Fintech\u2026 it\u2019s a brave new world"},"content":{"rendered":"

If one technology or concept has driven attention at\u00a0Fintech 2016<\/strong>, it\u2019s certainly the Blockchain Technology<\/strong>, upon which the\u00a0Bitcoin <\/strong>crypto-currency is based. This technology was the topic of the Wednesday\u2019s lunch which was immediately followed by a discussion with a panel of high-level international experts.<\/p>\n

Fintech Montreal<\/strong>\u00a02016 was presented last Tuesday and Wednesday, on the 20th and 21st of September, at the Palais des Congr\u00e8s and as expected the Who\u2019s Who in the world of finance in Qu\u00e9bec was attending. The program was well structured including of course, a \u00ab Startups\u00a0\u00bb moment, just as every event worth attending does. God knows, Fintechs are worth the detour since they rock the Finance & Banks processes big time, invading a field which used to be exclusive to some, proposing simple, fluid and mobile enhanced solutions, in short, much more efficient; just think of the new \u00ab\u00a0Mobile Money\u00a0\u00bb<\/em><\/strong>\u00a0paradigm and Mobile Banking<\/strong><\/a>!<\/p>\n

In short, according to all these experts, the Blockchain Technology will revolutionize the field of Banks and Finance in the next few years and this revolution, although still pretty much invisible to the majority, has already started.<\/p>\n

Why and how?\u00a0 Let\u2019s see!<\/p>\n

<\/p>\n

Blockchain or Bitcoin?<\/strong><\/h2>\n

Let\u2019s not forget that behind Bitcoin, there\u2019s the Blockchain Technology which as its name suggests, is a database containing the history, under the form of chains of blocks, of all exchanges between participants since its creation, it\u2019s a ledger of all accounts distributed between many computers (nodes).<\/p>\n

These chains of blocks contain lists of transactions (of all sorts, potentially), validated (encrypted) by algorithms (proof-of-work) and therefore protected by the network since every node (computer) has a copy of that ledger (database). Users know that once their transactions have been written in the ledger, nobody can either erase it or modify it. For the essential, that\u2019s Blockchain Technology.<\/p>\n

A few interesting facts about Blockchain Technology:<\/p>\n