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Abstract
Blockchain—a kind of distributed ledger technology—has been described in the popular press as the next big thing. Put simply, a blockchain is a data structure that makes it possible to create a tamper-proof digital ledger of transactions and share them. This technology uses public-key cryptography to sign transactions among parties. The transactions are then stored on a distributed ledger. The ledger consists of cryptographically linked blocks of transactions, which form a blockchain (bit.ly/2sgabnq). It is impossible or extremely difficult to change or remove blocks of data that are recorded on the blockchain ledger.