In this blog, we curate relevant and remarkable content related to blockchain, cryptocurrency and the digital economy. This excellent piece by Shelly Palmer published on Adage reports points out that blockchain is not necessarily all about cryptocurrency. Read on.
“Blockchain is well-known for being Bitcoin’s underlying technology, but many believe blockchain has the power to radically transform whole industries. Here are six non-cryptocurrency blockchain (distributed ledger) uses to help you form your own opinion.
1. Smart contracts
Overview: Smart contracts are self-executing programs that automatically check the rules of the transaction, verify and process the transaction, and, in some cases, enforce the obligations of the parties. This type of automation can dramatically increase productivity and lower costs.”