Banks are centralized ledgers and big places where they protect deposits in their buildings, in a nutshell, it’s a Trust system.
What’s the Trust System
The Trust system involves three people, me & you & someone between us, e.g anyone from the government, a bank to an insurance company.
We trust them, we give them the power to run things, but when you give up your liberty and power it's because you trust that they won’t harm you by stealing from you etc. that’s a trust system.
What Is Ethereum
Launched in 2015, Ethereum is an open-source, blockchain-based, decentralized software platform used for its cryptocurrency, ether.
It enables smart contracts and Distributed Applications (ĐApps) ...