November 23, 2016
Blockchain, the technology underpinning the cryptocurrency, could revolutionize the world economy. Blockchain is basically a distributed ledger. It can store information about who owns a piece of land or a bond. The technology can be used to keep an immutable record of ownership and enable transaction of the asset amongst distrusting parties. It has been trialed by banks to carry out the trading of multiple types of assets. Authors prefer the term "Distributed Ledger Technology (DLT)" but for the purposes of this article, we will use the terms interchangeably.