As far as buzzwords go in 2017, “bitcoin” is probably near the top of the list. But this post is not about encrypted, decentralized payment systems. It’s about the framework beneath cryptocurrencies such as bitcoin known as blockchain.
Explaining the technical aspects of blockchain can get complicated pretty quickly. But, in a nutshell, think of blockchain as a digital ledger that is shared across a network to facilitate the tracking of transactions or exchanged goods. In the currency world, a blockchain substitutes a traditional central banking system in an attempt to make transactions more secure and efficient. But blockchain is not limited to currency and payments. Virtually anything can be recorded and tracked in a blockchain network. Anything, such as goods in a supply chain. So, as you can imagine, blockchain networks open up many exciting possibilities in the logistics industry.