Cryptocurrencies – Why banks and governments aren’t part of the chain

Crypto needs some trustworthy way to track all those transactions, and that’s what a blockchain is. It’s a theoretically tamper-proof public online database.

Caitlin Long, the CEO and Founder of Custodia Bank, a bank for digital currencies, described the blockchain as “a new type of ledger, where different parties who don’t know each other – and certainly don’t trust each other – actually can trust that that shared ledger is the so-called golden copy of all the data.”

All you need to see it is an internet connection. And sure enough, at websites like blockchain.com, you can look at the transactions happening in real time, all essentially anonymous.

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