Communications of the ACM, Vol. 59 No. 11, Pages 15-17
Blockchain Technology has attracted attention as the basis of cryptocurrencies such as Bitcoin, but its capabilities extend far beyond that, enabling existing technology applications to be vastly improved and new applications never previously practical to be deployed.
Also known as distributed ledger technology, blockchain is expected to revolutionize industry and commerce and drive economic change on a global scale because it is immutable, transparent, and redefines trust, enabling secure, fast, trustworthy, and transparent solutions that can be public or private. It could empower people in developing countries with recognized identity, asset ownership, and financial inclusion; and it could avert a repeat of the 2008 financial crisis, support effective healthcare programs, improve supply chains and, perhaps, clean up unethical behavior in high-value businesses such as diamond trading. Read more.