A young South Korean game developer named Ryu Gi-hyeok, made his mark on history by adding the text of the Panmunjom Declaration to a blockchain transaction. This declaration for Peace, Prosperity, and Unification of the Korean Peninsula was adopted between the leaders of North Korea and South Korea, Kim Jong Un and Moon Jae In, on April 27 during the 2018 inter-Korean Summit.

For about 10 dollars worth of fees and a few 30-second transactions, Mr. Ryu immortalized the text of the historic agreement onto the ledger of the emerging technology in both Korean and English. Both of the transactions can be seen in their respective languages by converting the data to UTF-8.

Ethereum is currently one of the most used blockchains in the world. A public blockchain can be used to host decentralized applications and smart contracts which do not have a single point of failure, a benefit not given to users of centralized systems like Facebook and Equifax. Users and machines are able to interact with the blockchain by inserting metadata (i.e text, audio, any form of media) into their transactions. Everything that occurs on the blockchain is fully transparent, permanent, and incorruptible. Making it ideal for governance and information that is prone to censorship.

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Photo Credit: CNN Money


Panmunjom Declaration:
Name in Korean: 한반도의 평화와 번영, 통일을 위한 판문점 선언
Name in Chinese: 韓半島의 平和와 繁榮, 統一을 爲한 板門店 宣言

A section of the original text of the declaration:

“During this momentous period of historical transformation on the Korean Peninsula, reflecting the enduring aspiration of the Korean people for peace, prosperity and unification, President Moon Jae-in of the Republic of Korea and Chairman Kim Jong-un of the State Affairs Commission of the Democratic People’s Republic of Korea held an Inter-Korean Summit Meeting at the ‘Peace House’ at Panmunjom on April 27, 2018.

The two leaders solemnly declared before the 80 million Korean people and the whole world that there will be no more war on the Korean Peninsula and thus a new era of peace has begun.

The two leaders, sharing the firm commitment to bring a swift end to the Cold War relic of longstanding division and confrontation, to boldly approach a new era of national reconciliation, peace, and prosperity, and to improve and cultivate inter-Korean relations in a more active manner, declared at this historic site of Panmunjom”

Click here for the full text of the Panmunjom Declaration.

 

 


Blockchain formation. The main chain (black) consists of the longest series of blocks from the genesis block (green) to the current block. Orphan blocks (purple) exist outside of the main chain.

What is Blockchain?

A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. By design, a blockchain is inherently resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority. Blockchains are secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, such as identity management, transaction processing, documenting provenance, food traceability or voting. Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has been the inspiration for other applications.

Source: Wikipedia


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Sources:

History written on blockchain! Two ETH transactions containing the Panmunjom Declaration (steemit)

Wikipedia: Blockchain


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