19Blockchain and other distributed ledger technologies
Introduction
Blockchain and other distributed ledger technologies offer new tamper-proof ways to verify identity and ownership, to make near-instant payments without the need for the involvement of third parties, to store value (e.g. through cryptocurrency), to facilitate peer-to-peer fundraising and lending (e.g. ICOs and STOs), to automate the execution of contractual agreements and related workflows (e.g. via smart contracts), to improve auditability, to distribute data storage, and to do all of this more securely.1, 2 The transformative impact of blockchain technologies has been equated to the advent of the internet. As with early applications of the internet, the applications of ...
