Blockchain, also known as Distributed Ledger Technology, is an emerging type of business improvement software.
Globalisation is one of the driving forces behind this digital technology, with consumers, businesses and governments expecting fast, reliable and secure ways of storing and transferring critically important data. While Bitcoin has captured the headlines, the blockchain technology that underlies Bitcoin has received much less attention but has the potential to have a more wide-ranging impact. From Banking and Financial Institutions, Education, Government and beyond, blockchain technology has endless applications for addressing the changing digital landscape.
Cryptocurrency is only one application of blockchain technology, the most widely known cryptocurrency being Bitcoin. There are now over 1,000 cryptocurrencies.
Hand in hand with the rise of cryptocurrencies is the advent of “initial coin offerings” or ICOs.
Understanding how blockchain, cryptocurrency and ICOs may change your environment, both professionally and on a personal level, is imperative to making the most of this technology and your businesses future in the emergent digital age.