How are businesses using blockchain?
(Note: companies that could be impacted by the content of
this article are listed at the base of the story (desktop version). This
article uses third-party references to provide a bullish, bearish and balanced
point of view; sources listed in the “Balanced” section)
Businesses are finding that blockchain, the technology behind Bitcoin and other cryptocurrencies, has far wider and more useful applications than creating speculative digital currency markets. Blockchain is essentially a record-keeping system, however, it is unique in that it uses a distributed ledger system making it more tamper-proof than other databases and free from centralized control. While the early iterations of this technology have been overshadowed by cryptocurrency, businesses are now seeing blockchain’s true potential as a tool to solve complex problems and streamline complex processes. Could blockchain lead the next technological revolution or is it all just hot air?