While cryptocurrencies have created most of the sensation over the past couple of years, it is blockchain - the technology underlying cryptocurrencies - that has firmly captured the imagination of cryptonerds, programmers, researchers, board rooms, central bankers as well as politicians.
Blockchain technology allows for a recorded incorruptible decentralized digital ledger of all kinds of transactions to be distributed on a network. Rather than being stored in any single location, the information in the blockchain is copied across a network of computers and other devices, hence the decentralized aspect. Given this type of infrastructure, records on the blockchain are public, verifiable and accessible by anyone who has internet. They are also tamper proof.
Every day, new tangible applications leveraging blockchain technology are being rolled out to solve some real world-world problems. New businesses and business models are emerging in the process. Here are some examples of how blockchain applicability is evolving . . .