Cryptocurrency companies are getting a lot of attention again this week – but for all the wrong reasons. U.S. regulators are cracking down on trading platforms Binance and Coinbase, causing crypto values to plunge in recent days. The charges in each case are different but show that regulators are now firmly focused on the market for buying and selling digital assets – particularly after the collapse of major player FTX last November.

But while the activities of some of the companies offering access to this sector are being called into question, the underlying technology they use to trade is not. Cryptocurrencies use blockchain technology to keep a record of transactions between users. And while crypto is perhaps the most discussed use of blockchain, it has many other applications, as Binghamton University professor of electrical and computer engineering Yu Chen explains.

From protecting private medical information to validating votes and even building smart cities, blockchain can play a role in protecting users and recording transactions. Most importantly, the technology can boost mutual trust among the people and organizations making use of it.

Pauline McCallion

Senior Business Editor, The Conversation U.K.

Blockchain is a key technology – a computer scientist explains why the post-crypto-crash future is bright

Yu Chen, Binghamton University, State University of New York

There are many uses for digital systems that are not centrally controlled and that allow large numbers of people to participate securely, even if they don’t all know and trust each other.

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Quote of the week 💬

  • "Florida’s recent political turmoil has thrust the state into the national, and global, spotlight. Its deeply partisan divide, controversial policies and gun laws have created a toxic political climate, which has the ability to significantly damage the sunshine state’s appeal."

    – Dafydd Townley, teaching fellow in international security, University of Portsmouth, from his story Florida ‘freakishness’: why the sunshine state might have lost its appeal





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