We’ve received multiple inquiries regarding Bitcoin and blockchain technology, and how disruptive it might be. Here are our thoughts on the recent technology.
As cryptocurrencies like “Bitcoin” have seen their values fluctuate wildly over the past two years, bitcoin, and blockchain, the underlying technology that powers it, have captured investors imaginations.
Blockchain at its heart is a distributed-ledger technology that employs cryptography to ensure the integrity of the data it stores. For all its hype, blockchain is basically just a novel approach to database architecture where control of the data is distributed among all the parties using it.
This architecture is enabled by cryptography and the use of tokens (i.e., cryptocurrencies) as incentives for participants to perform the work to ensure the data’s integrity.
What makes blockchain so disruptive is its shared ledger eliminates the need for intermediaries to establish trust and authenticate identity between two untrusted parties who want...