The true innovation behind the Bitcoin protocol is blockchain technology. Blockchain is the underlying distributed database and encryption technology that enables trustless transactions that can be verified, monitored, and enforced without a central institution. This master’s report presents the core concepts behind blockchain that are concerned with carrying instructions for storage, sharing of non-financial data, including an examination of the byzantine fault tolerant cryptography model.
A literature review describes the types of blockchains, nodes, proof of work, disadvantages, and risks and provides a survey of future applications related to state government records, such as birth certificates, automobile registrations, land deeds, and voting. This review will answer the question: Is it possible for a state government to use blockchain employing trusted nodes given that the nature of blockchain is that of a distributed network of peers accompanied by a public ledger without a central authority?
Finally, the requirements for a specific application case study will be defined and developed. The desired application will be a smart contract to invoke a statutory durable power of attorney using blockchain technology for oneself in case of incapacitation while still living.Electrical and Computer Engineerin
