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Read all about it at the above link. There's way too much to process here. This is going to be wild.
Oh what complete fucking energy wasting bullshit that can be handled by a simple db. Just more corporate buzzword bingo from these jackasses in charge.
Don't knock the tech just because it's currently being used like stocks and currencies. Fundamentally the blockchain solves the problem of making a distributed database secure and modifiable when in the presence of untrustworthy nodes -- no easy task. Simple dbs are not up to this task