Why journalists need to understand Blockchain

DECODED: TECH, TRUTH, AND THREATS

By Art SamaniegO

From cryptocurrency scams to government plans for digital IDs, blockchain is finding its way into headlines. Some officials have even suggested placing the national budget and procurement records on the chain to make spending more transparent.

For journalists, this means blockchain is no longer just a tech story, it is now part of politics, governance, business, and public accountability.

Understanding the basics can help reporters cut through hype, ask sharper questions, and explain developments to readers without getting lost in jargon.

This FAQ answers common questions about blockchain, written for those with no technical background.

FAQ: Blockchain for Journalists

1. What is blockchain in simple terms?

Blockchain is a record-keeping system that stores information in blocks linked together in a chain. Once a block is completed, it cannot be changed without affecting the whole chain. This makes the record resistant to tampering.

2. What does “immutable” mean in blockchain?

Immutable means unchangeable. In blockchain, once information is written into a block and added to the chain, it cannot be altered without changing every block after it. This is what gives blockchain its reputation for trustworthiness.

3. Is blockchain the same as Bitcoin?

No. Blockchain is the underlying system. Bitcoin is just one use case. The same technology can track supply chains, store medical records, or manage digital identities.

4. Why is blockchain important for journalists to understand?

It is now being used in finance, health, logistics, and even elections. Reporters may encounter it in press statements, government announcements, or corporate launches.

5. How does blockchain work in practice?

Think of it as a shared ledger across many computers. Everyone sees the same version. When new information is added, all copies update at once. This prevents hidden changes.

6. Who controls a blockchain?

Some blockchains are public, meaning no single person or company owns them. Others are private, managed by an organization or group. Control depends on how the system is designed.

7. Can blockchain be hacked?

It is very difficult but not impossible. Attacks usually target apps or exchanges built on top of blockchain rather than the chain itself.

8. What are cryptocurrencies, and how do they connect to blockchain?

Cryptocurrencies are digital money, like Bitcoin or Ethereum, that use blockchain to record all transactions. Each transfer is written into the chain, creating a permanent record.

9. What is mining in blockchain?

Mining is the process of verifying and adding transactions to the chain. In systems like Bitcoin, miners solve complex puzzles with computers and are rewarded with new coins.

10. What are gas fees in blockchain?

Gas fees are charges paid to process transactions on some blockchains, such as Ethereum. They go to the computers that keep the network running. Fees can rise when the network is busy.

11. Does blockchain waste energy?

Some blockchains, such as Bitcoin, use large amounts of electricity for mining. Others use newer methods that consume far less. This is a frequent topic in environmental debates.

12. Can blockchain help fight misinformation?

Some projects use blockchain to timestamp content. This can help verify when and where a photo, video, or document was created, making manipulation easier to detect.

13. Is blockchain already used in the Philippines?

Yes. It is being tried in banking, remittances, logistics, and government services. Regulators have issued rules for cryptocurrency exchanges.

14. What are smart contracts?

Smart contracts are agreements written in code on the blockchain. They can automatically release payments or trigger actions once certain conditions are met.

15. What are the prerequisites if a government wants to use blockchain?

Governments need several things in place:

■ Laws that recognize digital records and protect privacy.
■ Strong internet and secure digital systems.
■ Staff trained in blockchain and cybersecurity.
■ Compatibility with existing government systems.
■ Existing government systems that are already digitized
■ Public trust that blockchain will not be used for surveillance.
■ Funding to cover costs of setup and training.
■ Pilot projects to test before full rollout.

16. If blockchain is secure, why are there many scams in crypto?

The blockchain itself is hard to hack, but scams usually target people, not the chain. Fraudsters trick users into sending money, invest in fake projects, or exploit poorly designed apps built on top of blockchain. Security of the technology does not prevent human deception.

17. What risks should journalists watch for?

Scams, fraud, and exaggerated claims. Some companies use blockchain as a buzzword. Always ask for clear examples of how it is being applied.

I created this FAQ because journalists are increasingly asked to cover blockchain, Web3, and related stories that spill into finance, politics, and governance.

To keep myself updated, I meet regularly with a small group of techie friends where we talk about blockchain, Web3, cybersecurlty, and the latest tools shaping the industry. If this interests you, let me know and I will be glad to invite you to one of our sessions.