The phrase “blockchain” is almost definitely familiar to you. But chances are you have no idea what it is or how it works, let alone why it is so popular. That’s OK. The majority of folks do not.
This hasn’t stopped it from becoming a catchphrase in nearly every business, from finance to shipping to fantasy football. Amazon (AMZN), Facebook (FB), IBM (IBM), and Walmart (WMT) are among the corporations who believe blockchain technology might help them manage shipments and store data more efficiently, among other things. They aren’t alone in their enthusiasm for the technology, which many feel has the potential to transform logistics, food safety, finance, and even voting.
Not bad for a mysterious individual who created bitcoin and developed a mystery technology.
Of course, none of this addresses your question: “What is blockchain?” Continue reading