blockchain technology what exactly is it while in today's video that's exactly what we're going to discuss welcome back to my youtube channel crypto secrets blend Martin here and of course as ever if you would like a free course on crypto currency and how you can make money with it you can go over to WWE riches info so let me ask you a question when you though have you ever wondered if your vote is even counted and if you meet someone online how do you actually know that they're real what about coffee when you buy it and it's labeled as Fairtrade what makes you so certain of its origin well to be sure you'd need a system where records could be stored facts could be verified by anyone security is guaranteed nobody could cheat the system because everyone using the system will be watching now systems like this actually exist and the software which powers them is called a blockchain a blockchain stores information across a network of personal computers making them not just decentralized but also distributed so that means that there's no central company or person who owns a system everyone can use it and outrun it's it's difficult for anyone to corrupt or Hackett's and people who run the system use their computer to hold bundles of records submitted by others these are known as blocks which form a chronological chain and the blockchain uses a form of math called crip cryptography to ensure that records can't be changed by anyone else and you probably heard of Bitcoin and if you haven't it's a form of digital currency that you can send to anyone including a total stranger well bitcoin is different to credit cards and PayPal and other ways to send money because there isn't a bank or financial middleman involved it's powered by this blockchain technology now instead what happens is people from all over the world how move this digital money by validating Bitcoin transactions with blockchain their personal computers earning them a small fee in the process Bitcoin as I said uses this block chain technology by tracking records of ownership of this digital currency so only one person can be the owner at a time and it can't be spent twice unlike the counterfeit money we see in the world when we use dollars and other forms of currency you know which can be manipulated devalue and copied there's you know there's a lot of fake dollars out there well this can't happen with Bitcoin because of the blockchain technology on which it stunts so that was my very very short explanation of what blockchain technology is it really is as simple as that my friend don't make cryptocurrency hard to understand because it's simple when you know a few things and again he's just a reminder if you would like to get a free cryptocurrency course which shows you what cryptocurrency is and how you can make money with it go to wwwhsn fo now if you enjoyed this video and you got value from it what I want you to do is like this video share it subscribe to the channel hit the notification bar so you can get updates of all the new videos I'm gonna be uploading each week and also leave a comment or draw or drop a question below and I'll be happy to answer and get back to you ASAP I'll see you in the next video and as ever here's to making your next crypto investment your best crypto investment talk to you in the next one you