The virtual currency Bitcoin has gained notoriety and intrigued entrepreneurs, finance magnates and governments. Lauded and criticized for its ability to offer relatively fast, inexpensive and nearly anonymous transactions, Bitcoin ushered in a new era of Fintech innovation. For example, it paved the way for the development of other virtual currencies such as Ethereum, Monero and Dash.
Although various virtual currencies offer different features and purport to serve different purposes, most share one key attribute: the blockchain. This article offers a high-level overview of blockchain technology and how it might impact industries such as finance, insurance, smart contracts, real estate and logistics.
