In the previous chapter, you learned what exactly constitutes a blockchain, how it works, and what are the architecture and ecosystems behind the technologies. But why is this technology in the news so often, and why are most IT-driven companies saying it is the most disruptive technology in decades?
Blockchain is going to celebrate its tenth birthday in 2018. Originally developed to support Bitcoin, it has gone beyond the world of cryptocurrencies and into the world of business IT. What started as a shared ledger that can process and settle financial payments in near real time (minutes) using cryptographic computer algorithms, without the need for a third party to verify transactions, has since evolved as an open source technology that can be used by many other applications that need the support of a distributed ledger—from finance to insurance to health care. The technology has the potential to be as disruptive to these industries, and to global...