The word “blockchain” has become so widespread it is losing its meaning, claims Adrianne Jeffries. Blockchain is a cryptographically enhanced digital ledger that underpins most cryptocurrencies and there are many online explanations, but no universal definition. Bitcoin was created in 2009 by an anonymous programmer using the pseudonym Satoshi Nakamoto. The University of British Colombia is now leading attempts to find an agreed standard definition for the International Standards Organisation.
The word “blockchain” has become so widespread it is losing its meaning, claims Adrianne Jeffries. Blockchain is a cryptographically enhanced digital ledger that underpins most cryptocurrencies and there are many online explanations, but no universal definition. The confidence of the cryptocurrency industry has exaggerated what a blockchain can do and this may lead to problems as states pass legislation about blockchains. The University of British Colombia is now leading attempts to find an agreed standard definition for the International Standards Organisation.