Blockchain

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Distributed public transaction ledgers, called blockchains, enabling digital currencies and many other solutions

Distributed public transaction ledgers, called blockchains, enabling digital currencies and many other solutions

Definition

  • Distributed, public digital ledgers that authenticate and prevent duplication of financial and other transactions without need for central authority
  • Invented to enable launch of digital currency Bitcoin in 2009

Outlook

  • Becoming foundation of most new digital currencies
  • Incorporated into wide number of emerging applications beyond digital currencies, including distributed messaging, registries, clouds, voting, contracts, accounting, and payment systems
  • Utilized in both open public, as well as closed private, applications

Implications

  • Enabling increased security, transparency, streamlining and automation of processes
  • Impacting broad number of business and legal applications beyond financial transactions
  • Allowing creation of autonomously-governed entities and systems
How might you implement blockchain technologies to monitor, automate or streamline business processes, resulting in increased security, transparency and efficiency?
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