00:00hey guys welcome to my channel today i'm going to share with you the story of the blockchain
00:06let's get started but before we do that if you want to learn more about topics like this subscribe
00:13for more content what is the blockchain the term blockchain was coined in 1991 by steward hyper
00:20and w scott stornetta they were looking for a way to create a digital chain of events
00:26that could end to be tampered with the result was the blockchain a series of blocks that are linked
00:32together in chronological order each block contains data in this case a time stop and a hash of the
00:40previous block this makes it possible to verify the integrity of the data in each block ensuring
00:46that it has not been altered or tampered with okay in 2008 the first blockchain was created by an
00:54unknown person or group of people using the alias satoshi nakamoto this blockchain was used to
01:01create the first cryptocurrency bitcoin since then blockchain has become one of the most popular
01:08topics in technology everyone from investors to government officials to business leaders
01:13are talking about it but what exactly is blockchain how does it work and why should you care let me
01:21explain imagine a spreadsheet that is shared among many users every time there is an update to the
01:27spreadsheet all of the users get a copy of the updated spreadsheet now imagine that the spreadsheet
01:33is being used to track transactions every time a transaction occurs it is added to the spreadsheet all
01:40of the users are notified of the update now imagine that the spreadsheet is being shared among multiple
01:46people computers instead of just a few users
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