In case you haven't, Blockchain immutability refers to the fact that in a Blockchain, whenever a record is added, it becomes a permanent part of the chain which cannot be changed.
In other words, all records which are added to a Blockchain are permanently added, in a cryptographically secure way, and they cannot be modified… Ever.
This quality of being immutable is one of the most unique and valuable characteristics of Blockchains.
Let me explain…
Blockchain Immutability vs. The Global Online Crisis of Truth
If you look around, you'll quickly realize that we are experiencing a global “online crisis of truth.”
In a nutshell, we currently live in a world where reality, and how reality is currently communicated and perceived over the Internet, is broken.
You see it daily in the epidemic of fake news… You see it in the rise of phishing hacks… You see it in the growing number of Ransomware attacks… You see it in the overwhelming risk of identity theft as new, more cleverly designed malware attacks ask you to click on a link or enter your username and password for your most valuable online service accounts…
It's bad – and from the looks of it – the bad guys are currently winning.
The basic problem in all these cases is that on the web, it's very difficult to determine the truth of anything.
But is there anything that can be done to counter this?
There is – and the answer lies in a technology called Blockchain.
In this video taken from the online course “Blockchain and Bitcoin Fundamentals” by Blockchain Institute of Technology, I explain what Blockchain is and why it is the antidote to this global online crisis of truth.