If you’ve ever read about cryptocurrencies such as Bitcoin and Ethereum, you may have come across the terms blockchain or distributed ledger. You’ve probably also heard about how corporate giants like Walmart and Visa are testing the technology, either to improve traceability or accountability.
Given the amount of hype surrounding it, you’d think that blockchain technology is rapidly shaping up to become one of the most influential technologies of this decade. Despite how disruptive it seems on the surface, however, there is still some confusion over what exactly it accomplishes. Moreover, some argue that the technology’s recent applications in the private sector are forced, or mere gimmicks.