Blockchain Explained and Why It’s Already Part of Your Life. My grandson would say, “Nuh, uuhhh.” I just smiled because I had just figured it out. I’m “passing it on,” because I think there are others who are just as confused as I was.
The word itself was telling me that it was a block, like a wall that stops you or a football tackle. But, it does a twist with your thinking and it is a security feature built into the chain-linked security system. Think of trying to fool 1,000 cashiers with a fake $100 bill. If the second cashier spots the fake, then everyone else can see it, too. It doesn’t get used as acceptable currency and is rejected.
The chain itself is prompted to self-protect itself. If the link does not match, the entire network spots it and rejects it. It never becomes part of the process. If your bicycle loses one link, you know it instantly. Same here. Thus, the chain keeps its interlocking security system and the network itself polices that aspect.
What is Blockchain, Really?
It’s digital and a record of transactions with bookkeeping. And it’s used across thousands of computers all at the same time. This way, no one person, government or company owns or controls it. Every link of the chain has verified data and once recorded, it can never be changed or deleted. Written in stone, but electronically.
This verified data is held in a link (a piece of information). It hooks to the next link with the same type of “password,” proving it belongs with the link. Those thousands of computers say, “Okay, you can link up with us.” It’s a permanent hook-up. There is nothing else needed (bank, clearing house, notary public).
Why Should You Trust it?
Many people like this decentralized system because if you try to change one block’s information, then everything else would be “the domino effect” happening. The possibility of a successful hack? It’s as close to “Mission: Impossible” (TV show, 1966 and 1988 series) as technology can be. That’s strong, but digital usage is never an absolute science.
Blockchain is like a glass safe deposit box. All can see the glass box and something is inside it. The contents are encrypted, but to see inside the data in the block, you must have the private key.
Every User Has Two Keys in Blockchain
The first one is a public key, similar to your home mailing address. To find the data inside, you use your private key, similar to the front door of you home.
You are the only one with that key in the Blockchain world. There is no reset button, no undo and no customer service department has a backup. The network cannot access your own private key. Lose that and you lose access to the contents. Keep it and no one from government to hacker gets to the data without your permission.
Don’t Smartwatches Have a System?
That’s correct, but for one thing. Who owns the system that supports your smartwatch? You? No. It is Google, Apple, and Fitbit (Bought by Google in 2021). Why? Because your data lives in their house, on their servers and under their rules. They own all of your data, too. It’s called a proprietary centralized system.
Decentralized means that those companies would have to give up the most valuable thing they have right now, your individualized data (health history), because you signed their “terms and agreement policy.” Did you read it?
At this time, you don’t have a choice between decentralized (giving up your information back to you) and centralized, where somebody else owns the application and therefore the information on it. This is the smartwatch option.
Or, you may already use the decentralized application, without knowing you do. If you choose the decentralized application, it puts a private key in your hand, for your data, your rules and your personal lock.
You Already See It and Don’t Know It
- Walmart uses it to verify their products are authentic.
- Healthcare uses it to secure and share medical records.
- Received a package lately? It’s there in the package tracking from the factory to your door.
- International money transfers are faster and cheaper.
- Real Estate uses it for title transfers and less paperwork and smart contracts that execute automatically when conditions (specific points) are met.
And Blockchain is being studied for its application in the voting process. In April 2025, New York lawmakers reintroduced the Act, Blockchain for Election Integrity Act. And it is a formal study of voter records. They want to see how to secure those records and improve transparency at the same time. (1) StateScoop, which covers state and local government technology, has independently noted the New York Legislation. (2)
From the negatives of tampering/fraud, access barriers, lack of transparency and reporting delays, renewed interest in blockchain technology can possibly help improve the electoral systems in these areas. Other countries that are more active in using Blockchain include Estonia (global leader in e-government), Peru (implementing blockchain, 2026) and Sierra Leone (experimental alongside traditional verification, 2018). (3) Estonia does use it nationally, but the execution is up for debate anywhere else.
Not Crypto and Here’s the Difference
Remember that blockchain is set up as if it were the road. Bitcoin and Ethereum are the cars that drive on this road. Without the road, they cannot go anywhere. So, both depend upon the road for their journey. And Chainlink is one company that builds on the road, too.
What Future is Coming That Will Directly Affect You?
With blockchain, improvements are already in motion across every category below. Remember, this train picks up speed and it does not stop.
Real Estate
- Your business network may be moving in this direction already.
- The title company would be more efficient (less delay) and wire fraud could reduce.
- Smart contracts can hold escrow automatically.
- Conditions met. Meaning; details of an offer, the deeds, money releases, and even transaction closings.
- According to Deloitte, (4) the blockchain road could cut real estate transaction costs by up to 30 percent.
Healthcare
- HIPAA (Health Insurance Portability and Accountability Act, 1996) covers doctors and hospitals, while blockchain covers you.
- It is your health history and you hold the key.
- ONLY You digitally authorize the release of your medical records.
- You control the amount of health history to the doctor, pharmacy or specialist.
- You provide your health history to the (doctor’s) offices.
Music and Content Creators
- The Artist, blogger, photographer sets royalty or licensing rules once in a smart contract.
- No middleman holding your money for 30 to 90 days.
- Your content, your rules, your payment is on your timeline.
- Every use, download, or stream equals an automatic payment.
Supply Chain
- Farm to Truck to Warehouse to Store with every step verified and permanent.
- It is not faked, backdated or altered after the fact.
- The label that says “organic” or “locally sourced” is a smart contract tracking every “hand that touched it”.
- Walmart does this now with their produce and your suppliers may be next.
What Have We Learned and Why This Matters?
The future is upon us and it’s not a fad. Governments and major corporations are making changes to adopt the blockchain to their benefit. In addition, it shifts the focus of your data, especially your health history, back in your hands. And you may not think that you are using it, but it has changed the systems that affect you every day.
Our awareness about blockchain is on the level of, “it’s out there.” Do we know we are using it? It’s a really small percentage of the world’s population. In fact, only 4% of the world’s population actively use blockchain. (5) The technology works best when you don’t notice it — like electricity. You flip the switch, Voila.
You just did what most people won’t, for you took the time to understand something that is already changing your world. It’s encouraging to now understand the true meaning of blockchain and how it can enhance your own life.
Nola’s Note–Don’t keep it to yourself. Share this with someone who needs it. Have a question or a thought? Use the widget to the right and let’s keep the conversation going.
Resources
(1) https://chain.link/education-hub/blockchain-voting-for-elections/
(2) https://statescoop.com/new-york-blockchain-election-results-voting/
(3) https://www.bsetec.com/blog/can-blockchain-fix-voting-a-look-ahead-to-2026-elections/
(4) Deloitte. Started in 1845 and headquartered in London, England. One of the world’s “Big Four” professional services firms. Services include auditing, tax, financial advisory, and technology research. Recognized as a prominent source in global business and finance at https://www.deloitte.com/ and search “blockchain real estate 2022”.
(5) Statista. Global data and statistics platform used worldwide by three groups. They are academic institutions, Fortune 500 companies and major media worldwide. Source for blockchain global user statistics is https://www.statista.com/
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