Blockchain Technology Disrupting Traditional Records Systems

Financial Insights - Dallas Federal Reserve Bank

4 Pages Posted: 13 Jul 2017

See all articles by Christoffer Koch

Christoffer Koch

Federal Reserve Bank of Dallas

Gina C. Pieters

University of Chicago - Department of Economics; Cambridge Centre for Alternative Finance

Date Written: July 5, 2017

Abstract

This article gives a very general introduction to the technology, promises and limitations of blockchain technology --- popularized by the digital currency Bitcoin and a key force behind the surge of cryptocurrencies. Blockchain acts as a distributed database or joint global register of all transactions --- a decentralized digital ledger --- and has the potential to become a disruptive force in the financial industry and elsewhere, bypassing traditional, centralized channels such as banks.

Keywords: Blockchain, Bitcoin, Cryptocurrency

Suggested Citation

Koch, Christoffer and Pieters, Gina C., Blockchain Technology Disrupting Traditional Records Systems (July 5, 2017). Financial Insights - Dallas Federal Reserve Bank. Available at SSRN: https://ssrn.com/abstract=2997588

Christoffer Koch

Federal Reserve Bank of Dallas ( email )

2200 North Pearl Street
PO Box 655906
Dallas, TX Texas 75265-5906
United States

HOME PAGE: http://www.dallasfed.org

Gina C. Pieters (Contact Author)

University of Chicago - Department of Economics ( email )

1101 East 58th Street
Chicago, IL 60637
United States

Cambridge Centre for Alternative Finance ( email )

10 Trumpington Street
Cambridge, CB21QA
United Kingdom

HOME PAGE: http://https://www.jbs.cam.ac.uk/faculty-research/centres/alternative-finance/

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