Why blockchain matters, even if you don’t care about cryptocurrencies
Today, the world is increasingly aware of cryptocurrencies. But the idea has taken almost a decade to get attention.
When Bitcoin debuted in 2009, it largely appealed to economics geeks and libertarians who hoped it would usher in a new era of efficiency and financial decentralisation. However, Bitcoin’s real contribution may turn out to be blockchain, the technology on which it runs.
A blockchain is a distributed ledger, which means transactions are recorded and encrypted across a network of thousands of computers. If your eyes have begun to glaze over at this point, you’re not alone. Thinking through abstract computer concepts is challenging, and unless you’re a enthusiast, you might not see much incentive to stick with it.