The blockchain alternative

So, how does blockchain offer a powerful alternative to this traditional centralized payment system?

Let's take the village on the neighboring island to see how they proceeded from the initial problem of exchanging goods. This village, which we will call Village Beta, is also composed of 20 people.

Instead of electing one of them as the bookkeeper who will certify the truth and the history of transactions between them, they find another solution.

They create a book in which each page is designed as a spreadsheet with ten lines and three columns. The lines will be used to input transactions and the columns to input three pieces of information: the sender's address, the recipient's address, and the amount, as shown in the following diagram:

Then, they replicate the book 19 times and hand over one copy to each villager so that everyone possesses one book. Finally, they craft 10,000 coins that they call Villagecoin and distribute 10 to each one of them, leaving the remaining in a vault.