William Toth explains that blockchain technology is a decentralized database that stores a registry of assets and transactions across a peer-to-peer network. Simply put, blockchain is basically a public registry of who owns what, as well as who transacts what. The transactions are secured through cryptography, and over time, that transaction history gets locked in blocks of data that are then cryptographically linked together and secured. By doing so, this creates an immutable, unforgeable record of all of the transactions across any given network. Further securing these digital transactions, William Toth added, this record is then replicated on every computer that uses the network.
Institutions are a tool to lower uncertainty so that we can connect and exchange all kinds of value in society. Further, William Toth believes that we are now entering a better and more radical evolution of how we interact and trade, because for the first time, we can lower uncertainty not just with political and economic institutions, like our banks, our corporations, our governments, but we can do it with technology alone.
William Toth 