You’d be forgiven for thinking of cryptocurrency when you hear the word blockchain. However, it has come a long way since its inception in 2008 as a public transaction ledger for Bitcoin. At the core of every blockchain is Distributed Ledger Technology (DLT).
Originally built to underpin cryptocurrency exchanges, it has now evolved into one of the world’s fastest-growing and most publicised technologies with the potential to reshape our economy and society in ways not seen since the advent of the internet.
With so many powerful benefits, organisations large and small are clamouring to take advantage of this innovative technology to give their businesses a competitive edge. But what exactly is Blockchain, how can it impact your business and is it too good to be true for SMEs?