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b"In a blockchain, each block is \\u201cchained\\u201d to the previous one in a peer-to-peer data sharing network.\\n\\nWe\\u2019ve all heard the buzz about the potential applications of blockchain technology. But what\\u2019s actually happening in developing countries in Asia and the Pacific?\\n\\nBeyond bitcoin payments and remittances, blockchain exists largely in the pilot stage. Governments and banks are collaborating with technology firms to see if it can be used to solve persistent problems like traceability, identification, and trust.\\n\\nLet\\u2019s bring some clarity to the hypotheticals. But first, what exactly is blockchain? It's a type of database that takes records and puts them in a block (akin to, say, a sheet in your Excel file).\\n\\nEach block is then \\u201cchained\\u201d to the previous block, using a cryptographic signature. This allows blockchains to be used like a ledger, which can be shared and corroborated by anyone with permission.\\n\\nIn short, it\\u2019s peer-to-peer sharing of data \\u2013 it does not require a trusted intermediary. \\n\\nRead the blog post\\nhttps://www.asiapathways-adbi.org/2017/07/blockchain-pilots-making-waves-in-developing-asia/\\nhttps://blogs.adb.org/blog/blockchain-pilots-making-waves-developing-asia\\n\\nAuthors\\nAlisa DiCaprio, ADBI research fellow\\nhttps://www.asiapathways-adbi.org/author/alisa-decaprio/\\n\\nSteven Beck, Asian Development Bank head of trade finance\\nhttps://www.asiapathways-adbi.org/author/steven-beck/"