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Investment Management What is Blockchain Technology? Division Illustrative Schematic: Centralized Network versus Distributed Network Centralized Network Distributed Network = Blockchain is the critical and differentiating infrastructure that underlies cryptocurrencies. = Unlike most networks today, which rely on a centralized hub, a blockchain is a public distributed network whose complete database can be accessed and maintained by each member of the network. « The blockchain is a shared and continually reconciled database. As new transactions occur, data is quickly disseminated to, verified, and incorporated across all nodes on the network. = Because it has no single maintainer, the blockchain’s history is resistant to editing by a malicious actor. Source: Investment Strategy Group, http://cryptocurrencyfacts.com/how-does-cryptocurrency-work-2/ . 4 HOUSE_OVERSIGHT_025667