WHAT is blockchain’s appeal? Enthusiasts see it as a new way of doing all sorts of business.
Costs could be lower without a central middleman doing the work of keeping track of transactions, and charging for it. Banks and stock exchanges have invested heavily in developing blockchain technology, while retailers like Wal-Mart are experimenting with using blockchain for ensuring food safety.
Central banks are even speculating about issuing blockchain-based official currencies and other forms of blockchain emerged, often using their own cryptocurrencies to facilitate transactions. The most prominent is the ethereum blockchain, sometimes described as a platform for so-called smart contracts.