-> Blockchain is a decentrally organised database that archives and manages an evergrowing list of transactions.
-> All information on transactions is permanently stored in a database that parallely exists at all nodes of a peer-to-peer network.
-> Blockchain provides autonomy for individuals away from ‘middlemen’ such as public authorities and banks.
-> However, this decentralisation rapidly reduces current forms of regulatory control.
-> Possible negative social and economic consequences become less predictable and manageable.
Authors: Tanja Sinozic, Niklas Gudowsky