The future for blockchain-based systems is promising, but we need to be very clear about what blockchain can do that no other technologies can to today. Otherwise, its value will be obfuscated by a wave of misguided pilots. Three out of every four blockchain companies that I speak with today are not selling a solution, but are rather looking to buy a business case. Yet, when we look back on blockchain in 20 years, its impact may be as big as the internet.
As a technology foundation for decentralized business ecosystems, there are many, yet specific, use cases that hinge on the unique strengths of blockchain. Blockchains, or distributed ledgers, provide a new way to handle transactions with virtually anyone, anywhere, with confidence. They can encode all manner of attributes like value (cryptocurrencies) to just about any kind of digital record that are added to an immutable ledger across a network with no middlemen to slow things down or add costs.
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