Blockchain, developed in response to the emergence of cryptocurrencies, is an ever-growing list of records that irreversibly stores all details of transactions, once a transaction has been completed it forms part of the blockchain permanent database. The blocks are linked and secured using cryptography, ensuring that they remain tamper-proof and safe from hacking. The data can be easily
distributed, but neither duplicated nor modified; thus these transactions are impenetrable and unerasable.
These technologies have begun disrupting industries and businesses across the spectrum – our lawyers Jimmy Haoula and Lara Barbary wrote an article covering the basics of what are blockchain, cryptocurrency, and bitcoin, followed by the impact these technologies have had so far in the UAE market.
Read the article here: The Impact of Blockchain, Cryptocurrencies, and Bitcoin in UAE