Thanks again to the WSJ (and this time, I promise, it's not behind their paywall) for the following article that explains the fundamental concept of blockchain technology.
Whilst the first iteration of blockchain was a payment processing platform for Bitcoins - with the subsequent high profile collapse of the Mt Gox exchange and association as the de facto currency fueling the Silk Road (illegal) marketplace, for many outsiders the whole Bitcoin ecosystem had become toxic. Think again.
When Digital Asset Holdings - a blockchain start-up run by Blythe Masters (JPMorgan's former head of commodities) - was recently engaged by JPM itself to run a trial project, it was perhaps the banking sectors' biggest statement of intent to date.
If you have a spare 5-10 minutes to read this, I guarantee you will know more than 'enough to be dangerous' the next time somebody engages you on the subject...
Known by many as the technology underpinning the bitcoin digital currency, blockchain has acquired a new identity in the enterprise. At a time when companies face new challenges in data management and security, it’s emerging as a way to let companies make and verify transactions on a network instantaneously without a central authority.