In the past year, cryptocurrencies like Bitcoin transformed from geeky passion projects on Reddit into a speculative boom that has leading experts scrambling to get up to speed. Just last week, finance luminaries Warren Buffett and Jamie Dimon contradicted each other, with Dimon saying he regretted calling Bitcoin a fraud and Buffet warning that cryptocurrencies would end badly.
For the most part, everyone I talk to (who is not an engineer) doesn’t really get what blockchain is and how it can actually be used (besides as a currency). To those of you who are unaware that there is any other purpose for blockchain, it is important to note that while the press has focused on the 1300% increase in Bitcoin’s value, most of the actual work being done is in creating applications for blockchain that have little to do with currency -- or at least currency is only a component of the applications’ larger purpose.
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