Most people following developments in Bitcoin are familiar with the often repeated mantra proclaiming that blockchain is an innovative technological breakthrough.
The blockchain is a peer-to-peer public ledger maintained by a distributed network of computers. There is no central authority, and no need a trusted third party to process and verify transactions. Eliminating the need for third party intermediaries while maintaining a system that is completely secure, trusted, and verifiable is why the blockchain shines as a technologically innovative medium of exchange. To accomplish this, the blockchain must record transactions in a manner that allows anyone to objectively determine how much value has transferred just by observation.
People are loving blockchain technology because of its use in areas beyond transferring money value, so called “Bitcoin 2.0” functions. But can blockchain technology exist as a medium to exchange financial value without Bitcoin, or any native currency component?
(Via The Cointelegraph)