In this video, recorded during a summer research visit at IMDEA Networks, Paul Rimba, a research scientist at the Software and Computational Systems Group of Data61|CSIRO (Sydney, Australia) and a visiting scholar at the MIT Media Lab (Boston, USA), explains the basics of blockchain “in all its wonder”.

According to Rimba, blockchain facilitates decentralized and transactional data sharing across a large network of untrusted participants. In addition, it enables new forms of distributed software architectures, where agreement on shared states can be established without trusting a central integration point.