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Course: Financial Literacy > Unit 12
Lesson 10: How blockchain works- How Blockchain Works: Introduction
- How Blockchain Works: Why Blockchain?
- How Blockchain Works: Under the Hood
- How Blockchain Works: Beyond Currencies
- How Blockchain Works: Marketplace & Price
- Blockchain: Trustworthy or a Scam?
- Blockchain: Societal Impact
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How Blockchain Works: Why Blockchain?
Dive into the history of transactions and ledgers, tracing the evolution of how we keep track of value and exchange goods. From the invention of money to the development of blockchain technology, we'll examine why blockchain matters and its potential impact on the future. Created by Code.org.
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- Does the idea of a blockchain itself assume that governments and corporations—concentrations of power—are inherently, or at least can, be untrustworthy or corrupt? How might blockchains themselves go wrong, though?(2 votes)
- The concept of blockchain doesn't necessarily imply that governments or corporations are untrustworthy. Instead, it offers a way to create secure and transparent systems for recording transactions without relying on central authorities. However, blockchains aren't perfect and can face issues such as attacks by malicious actors, exploited through controlled power, vulnerabilities in smart contracts, privacy concerns, scalability problems, and regulatory challenges.(1 vote)