🔗What is Blockchain

Blockchain can be understood as a large ledger, unique and shared by all users simultaneously, in which all transactions are recorded, verified and validated.

Records made on the blockchain cannot be changed, they are unique, universal and public to all users. It records all transactions that have already been carried out in its history, and it is also possible to check the updated position of each user's assets, creating a database with the entire history of each asset and each transaction.

Some say that blockchain is the cash book of the Internet. Until the emergence of this technology, records on the internet were concentrated in centralized protocols and relied on the intermediaries of this network. Now, with the advent of blockchain, records are distributed among “n” validators, several collaborators who build the security and immutability of records on the network, so it tends to be a much safer ecosystem than a single and central server, because information is decentralized and distributed on the network, creating an environment governed by an immutable protocol.

Blockchain is a chain of blocks, in which rigid protocols are executed through a decentralized network, in which each new block generated, based on new information, must be accepted by all other existing blocks, and must contain all the information present in the previous blocks, in order to guarantee the immutability and non-duplication of the data. Each block carries with it everything that happened before, in addition to the new information to be added, which must comply with the previous information contained in all blocks, to guarantee the authenticity of the information.

Take a 10 dollars bill and mark it with your fingerprint, then spend it. You will hardly know where this note will go, even with your fingerprint stamped on it. Imagine that you can record each transaction, and every time the note is transmitted to another person it will be scanned through your fingerprint and registered, and that it will not be possible to skip a single record, as it is a requirement to use the note. You will be able to know exactly where this note is and through how many people it has passed, even after 10 years of use. This is what blockchain provides, a unique, public record that guarantees the authenticity and exclusivity of the information that transits through it. Blockchain empowers users to be in control of all their information and transactions, making use of high quality data that is complete, consistent, timely, accurate and widely available, durable, reliable and long-lasting.

Ribus provides the real estate market with this security and modernity of blockchain, bringing to customers mechanisms to interact with this technology.