#Introduction
- Banks have made the exchange of currency their business. But the digital age has ushered in a new way of banking, disrupting the institutions that have controlled the industry for hundreds of years.It’s the internet of banking, developed by private citizens for private citizens.While innovation in the industry is most commonly linked to Bitcoin, a cryptocurrency, it’s the underlying technology, blockchain, that might produce the biggest waves.“Blockchain presents an opportunity to bring disparate things together and allow secure, nonrefutable records of transactions to be done anywhere you need them to be done — quickly, securely and with little chance of fraud,” said Andrew Dare, architect of financial services innovation at Hewlett-Packard Enterprise in Halifax, U.K. “Therein lies the true value of the technology.”
- Many people know it as the technology behind Bitcoin, but blockchain’s potential uses extend far beyond digital currencies. Its admirers include Bill Gates and Richard Branson