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Blockchain - Secure Electronic Commerce |

An Internet in which sensitive data is completely safe - until recently that was wishful thinking. With blockchain it could become a reality. Most people only know the term in connection with cryptocurrencies such as Bitcoin and Ethereum. Behind blockchain, however, is a technology that can be used to manage data in general and protect it from cyber attacks. This is due to the functional principle: Each so-called "block" is a list of data records that can be expanded and are linked using cryptography ("chain" is English for "chain"). The blocks contain information about the previous block, a time stamp and transaction data. If a block is modified afterwards, all subsequent blocks also change. Any interventions are thus visible and can be traced. The technology is made for digital currencies. But it can also be used to exchange and store all kinds of electronic information. Think of health data, voting votes, training certificates or tax data. In addition, the method is very reliable: The servers involved are not networked via a node, but rather with one another, i.e. decentrally. If an error occurs, each server involved has a copy of the data. That could change the economy significantly, as it would make electronic commerce truly secure. The blockchain stores data almost in real time, so that large amounts of current information can be exchanged quickly. Objects, such as autonomous vehicles, can also communicate with one another via the blockchain in the Internet of Things.