Blockchain technology which provides the foundation for digital currencies such as bitcoin could prove to be much more significant. Blockchain technology is at its dawn of creating a new revolution. Blockchain technology, as a mode of decentralization, is fast becoming the next major disruptive technology and worldwide computing paradigm, with the potential for reconfiguring all human activity as pervasively as did the internet.
Blockchain technology has become increasingly integrated into the global economic system which was the original intention of earlier developers. But blockchain has proved to be an alternative solution to many other global challenges essentially a public ledger with potential as a global, decentralized record for the registration, inventory, and transfer of all assets—not just finances, but property and intangible assets such as votes, software, health data, and ideas while at the same time reducing risk in fraud and tampering and removing intermediaries and the cost associated to them.
Organizations considering implementing blockchain technology need to understand important aspects of the technology. The use of blockchain technology is not a silver bullet, and there are issues that must be considered such as how to deal with malicious users, how controls are applied, and the limitations of any blockchain implementation. That said, blockchain technology is an important concept that will be a basis for many new solutions.