Blockchain technology was first implemented with the release of Bitcoin in 2009, used as a continuously growing ledger of all transactional data and wallet balances. A blockchain is a distributed ledger of data that is maintained and updated by a network of computers across the globe. The data is packaged into blocks, with each block containing a timestamp and cryptographic link to the previous block. As Bitcoin gained more traction worldwide people realized how powerful it could be to have a secure decentralized ledger, envisioning use cases that extended far beyond payment transactions.
The future of Blockchain technology is set to change the world and the way in which individuals carry out their business. This technology has huge potential to help the human race enter a new era that is more transparent, just, and less reliant on centralized institutions.
In recent years, companies across the globe have poured money into blockchain research, examining how it can make their business more efficient and secure.