Via Digital Trends
Blockchain turns that on its head. It’s effectively a digital ledger without a master copy. Transactions aren’t stored on any on computer, but instead stored on a network of computers, and they’re verified the same way. Transactions are recorded across the entire network through a shared record that no single computer holds. Transactions remain valid even when a PC goes offline – called ‘cold storage’ in the world of Bitcoin – making always-online game clients obsolete.
Strangely, it’s decentralization that makes true ownership possible. The database exists independent of any single person or organization, which makes its records objective, fair, and true. In blockchain circles, this is counter-intuitively labelled as “trust-less.” The implication isn’t that the blockchain can’t be trusted but, instead, that blockchain makes trust unnecessary. It doesn’t matter if you trust everyone else one the blockchain, because fraud is impossible – on the blockchain itself, at least. It’s a clever, and realistic, implementation.