Let’s visualize the blockchain through an example that might be a little more familiar.
Say you want some chocolate, so you create a list and ask your neighbor to go shopping for you. Perhaps you want some chips too.
But your neighbor is all about healthy eating. As she reads your list, she decides to change every single thing you asked for. Instead of chocolates, you get walnuts and cashews. Instead of a bag of chips, you get a watermelon.
Hmm… there goes all that food you had in mind, eh?
Well, on the blockchain, you wouldn’t have to worry about anyone messing with your list, because no one can ‘change’ your transactions.
In this example, we’ll call our blockchain, ‘Hangryhub.’ It's where angry people go if they are hungry.
It connects people from all around the world, and everyone who is a part of Hangryhub can see what everyone else is craving. They can monitor the network but can't see who's behind the food requests or cravings, only a unique combination of numbers and letters.
This combination ensures anonymity to keep your identity safe and secure.
With your unique combination, you can now send a request to the store for anything you want.
This request is now seen by everyone connected to Hangryhub.
But don't worry, this is actually a good thing! With everyone able to see the request, it ensures transparency and prevents anyone from tampering with it without your knowledge.
So if someone else (who has a different unique combination) tries to edit your shopping list, it won’t work.
Hoorah!
Compare our imaginary Hangryhub blockchain to a similar structure today: Uber Eats, Amazon Food, Gojek, or Meituan Waimai.
These are some of the biggest food delivery companies on the planet.
On these platforms, ownership of data is fully owned and controlled by them. These tech giants operate through a centralized system where one body holds all the records and data of the actors within the system.
They can see all the requests you make, where you order from, what time you order, and how you pay for it.
Your habits and preferences can be (and sometimes are) sold to other companies by these food platforms. You have no ownership over your own data in this situation.
This is also the case if they get hacked or compromised; everyone's data in the system will be at risk, which can lead to misuse of your data.
What’s most scary is the power these platforms can hold.
If you don’t follow their rules or adhere to their guidelines, they can ban you or stop you from making requests. No more chocolate for you. 🙁
Once you upload a request, these companies now have the power to either allow the request to be fulfilled or reject it. This is one way blockchain changes our relationship with our own data.