Wednesday, June 21, 2017

What next for blockchain? - McKinsey&Company

Blockchain technology is a distributed ledger. It allows for the permanent and immutable transparent recording of data, essentially, and transactions specifically. That can be used to exchange any number of things that have value, whether that’s an actual item [or something else]. It could be tea leaves making their way to the final tea maker. Or it could be me sending you a payment person to person without the need for intermediaries. I think of Bitcoin as being the entry point to a digital future where everything of value can and likely will be exchanged in digital format. Central banks will look to the Bitcoin experience to build central-bank-backed digital assets.

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