Yep, that’s it. It’s a list of people’s names. But it’s not just their names, their bank account balance is on there too.
Not quite the technological revolution you were expecting? Let’s take a second to figure out what makes this list so special.
But first, realize that our current banking system is just a list of names and balances too!
WRONG
it not
Alice: $5
Bob:$10
its actually
1xyz: $5 -> 1abc: $4
-> 1zyz: $1
1efg: $10 -> 1tuv: $10
or in ELI-5
alice pays bob $4
dave pays gary $10
there is no database of names or 'balance'