“Blockchain” is a term we have often read, heard, and, let’s face it, not always understood over the past year. To remedy the situation, today we will attempt to explain exactly what it means and how we got ready to offer dedicated translation and interpreting services on the subject.
What is blockchain? In simple terms, it is a cornerstone of the new generation of Internet, or rather the New Internet. It might be seen as a sort of Internet of Transactions. For those who look beyond the concept of transactions, blockchain might represent the Internet of Value.
It is in fact a public database which acts as a safe, auditable, permanent record of transactions made between two users belonging to the same network. Transaction data are saved inside encrypted blocks that are chained together chronologically. This creates an unending chain of data blocks (hence the name blockchain) that can be used to trace every transaction and verify it. We can therefore say that one of blockchain’s main purposes is to certify transactions between people.
Having specialised in an issue of absolute interest in 2018, the advent of GDPR regulations, we widened our knowledge of data privacy and online transactions by bringing in expert translators and consultants to train our staff, ensuring our translations keep pace with the times in the new world of blockchain.