Blockchain Developer's Guide

Global state

One of the key properties of blockchain technology is that it can act as a trusted global state. There are many applications where a trusted global state is important but difficult, such as financial technology and logistics.

For instance, a few years ago, I ordered some camera equipment online. A few days later, I came home and was surprised to find that my equipment had arrived. I was so thankful that the expensive equipment sitting outside had not been stolen. It was only the next day that I received an email from the seller alerting me that the package had been shipped.

Here is a clear breakdown of the global state. The truth was that the camera was already on a truck, but neither I nor the shipper had that information stored ...