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CIO 100: Blockchain for more than just cryptocurrency

Ben Mann, IBM, COO East Africa,

Blockchain is "an open and distributed register that can record transactions between two parties efficiently and in a verifiable and permanent manner". To be used as a distributed ledger, a blockchain is generally managed by a peer-to-peer network that collectively adheres to a protocol for communication between nodes and validation of new blocks. Once registered, data in a given block can not be changed retroactively without changing all subsequent blocks, which requires the consent of the majority of the network. These are some of the attributes that make the blockchain perfect for cryptocurrency trading, but while this is a major use case it is not the only one.

This was clarified by Ben Mann, IBM, COO East Africa, during his presentation at the CIO 100 event in Naivasha, Kenya. Mann described blockchain as an "instrument to create trust", says it is underway and that the blockchain is used to create new networks and value in various industries.

He gave several cases of use of blockchain including:


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