This explanation could simply make someone without technical knowledge understand the basic meaning of blockchain and its advantage over the central system.
Sunny Lu explained this in a video shared via DNV Sustainability’s Twitter handle on 4th March 2021.
Sunny Lu noted:
“Put yourself in a specific scenario. You want to say “I love you” to some girl. But you only say “I love you” to the girl alone without any witness. So that’s actually a “central system” because once you want to deny what you said, nobody can endorse that, right?
“So, if you want to say “I love you” to a girl with your friend as a witness, this we call a central system with a backup. So, if you want to lie about that, like deny what you said, you also need to convince your friend to lie with you, to lie for you. So, that’s a central system with a backup.
“So, if you want to say “I love you” to a girl with random and multiple witnesses. You don’t know them, but they are all listening to you. That’s blockchain. So, if you want to deny what you said, all the random people will prove what you said and you cannot deny that. So, that’s how blockchain works.”
Lu’s explanation shows that blockchain technology leads in terms of trustworthiness, an aspect where VeChain has been gaining vast adoption, especially within the enterprise ecosystem.
VeChain blockchain has also been aiding DNV to build authenticity and integrity into its Digital Assurance solutions.
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