There has been a shift of focus from bitcoin to blockchain technology in the past few months. Satoshi Nakamoto introduced the concept of blockchain in his white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008.
Blockchain is nothing but a ledger that records bitcoin transactions – a system that would enable people to transfer money to each other without the need for a third party, such as a bank.
However, in the past couple of months, more and more companies and organizations started to explore the potential of blockchain technology for non-monetary uses. In an article published on the Wired UK, Brian Forde, director of digital currency at the MIT Media Lab, and Michael Casey, senior adviser at the MIT Media Lab’s digital currency initiative, pointed out that entrepreneurs and developers are now proposing writing executable contracts without lawyers on the blockchain and automatically settling the transfer of stocks and bonds without a clearing house. For the full article click here
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