Blockchain France defines this concept as follows. Blockchain email data is a technology for storing and transmitting information, transparent, secure and operating without a central control body. Its main objective is to restore confidence in the transmission of data and commercial exchanges.
It was created in 2008 following the Subprime crisis . This crisis saw a distrust of traditional financial institutions. Indeed, this crisis led to a massive rejection of these institutions that made bad investments and created an unprecedented financial bubble.
The blockchain aims to eliminate intermediaries between two financial exchanges. In addition, its mode of operation means that all actions leave indelible traces. It should be added that the blockchain ensures what we own and simplifies financial transactions. However, this model does not work with "classic" money but with virtual currency or Tokens.
The blockchain has therefore generated different virtual currencies including the famous Bitcoin. These virtual currencies from the blockchain (see table below) also have the same objective. That of replacing the trusted third party lost in past transactions.
In contrast to the current banking system, this concept involves a collaborative approach. In fact, transaction validation is done through a collaborative approach called mining. That is, the verification of the resources needed to move on to a definitive transaction.