Menu
After that, Predrag Nikolić, Director of GCPN Blockchain & Fintech, and Alex Migitko, Director of GameCredits, explained how this technology could be applied. The concept and basics of blockchain technology were highlighted.
This technology, based on a mathematical algorithm, is actually a database that contains two elements – transactions in the form of information that is transmitted, and blocks that manage the transmission of information. All participants are connected with nodes. All transactions are recorded, so transaction manipulation is almost disabled. Compared with classical databases that are centralized and susceptible to attacks and alterations, blockchain technology is decentralized, autonomous and divided among participants.
Although Blockchain technology was created for the digital currency Bitcoin, it was emphasized that its potential is of great importance in all industries and sectors, and especially in the financial sector.
