There are many technical definitions of Blockchain. This is how I, as an accountant, understand it. This will be the new process for some transactions. DPWH will launch Blockchain technology. DBM is using Blockchain.
Blockchain is like a public digital notebook that
1. everyone can see and authorized people to verify,
2. but no one can erase or change once something is written.
1. (everyone can see and verify, ) All people can download the verified list.
Verifiers must input the correct information; incorrect input will lead to erroneous data within the Blockchain. They can make another file to disclose the wrong original data.
2. (no one can erase or change all public data once something is written.)
It will not be realistic for person no.1 to ask all people who downloaded the file to change the verified list. The verified file is link to a blockchain technology to maintain the security of the verified files.
Picture below shows
1. Sample file generated by a sample app. It has Blockchain hash, token no. , date , time stamp and raw time stamp that is unique for all tasks.
2. Actual DBM Blockchain file. 2nd file to show the error of original file. Original file no one can edit.
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