CB Insights August 20, 2020
Few people understand what it is, but Wall Street banks, IT organizations, and consultants are buzzing about blockchain technology. It’s hard to remove blockchain from Bitcoin, so we’ll start with Bitcoin as we work to understand this technology’s potential.
At its peak in January 2018, the total market cap of cryptocurrencies surpassed $800B, according to Coin Market Cap, while the price of bitcoin hit a high of almost $20,000 in December 2017. Initial coin offerings (ICOs) exploded in popularity in 2018, with billions being raised. Huge corporations — like Walmart and Pfizer — have completed blockchain pilots, with many more partnering on projects ranging from remittance to title transfer.
Let’s get started with a broad definition:
What is...
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