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Blockchain
The basics

Blockchain

A shared record that multiple organizations maintain together, with no single party in control. It's an infrastructure layer, just as the internet is infrastructure, with email and websites built on top of it. Cryptocurrency is one thing built on blockchain, not another word for it.

TradFi equivalent
In traditional finance...
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TradFi equivalent
No perfect TradFi equivalent exists, since every shared network in traditional finance is ultimately owned by someone. The SWIFT network comes closest: shared messaging infrastructure that institutions connect to and operate through, governed collectively by its members rather than controlled by one.
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Analogy
In everyday terms...
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Analogy
GPS. No single company owns the satellite network, but anyone with a receiver can use it, and businesses like Uber and airlines build entire operations on top of it. The infrastructure is open and shared, even though no one controls it centrally.
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