Contracts, transactions, and the records of them are among the defining structures in our economic, legal, and political systems. But they were built for a paper-based society. In a digital world, the way we regulate and maintain administrative control has to change.
Blockchain promises to solve this problem. Blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. Questions then turn to how organizations can identify opportunities to modernize their industry.