Blockchain

A blockchain is a growing list of records, called blocks,

that are securely linked together using
cryptography. [1][2][3][4] Each block contains a
cryptographic hash of the previous block, a timestamp,
and transaction data (generally represented as a Merkle
tree, where data nodes are represented by leafs). The
timestamp proves that the transaction data existed when
the block was published to get into its hash. As blocks Bitcoin blockchain structure
each contain information about the block previous to it,
they form a chain, with each additional block
reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because
once recorded, the data in any given block cannot be altered retroactively without altering all subsequent
blocks.

Blockchains are typically managed by a peer-to-peer network for use as a publicly distributed ledger, where
nodes collectively adhere to a protocol to communicate and validate new blocks. Although blockchain
records are not unalterable as forks are possible, blockchains may be considered secure by design and
exemplify a distributed computing system with high Byzantine fault tolerance.[5]

The blockchain was popularized by a person (or group of people) using the name Satoshi Nakamoto in
2008 to serve as the public transaction ledger of the cryptocurrency bitcoin, based on work by Stuart Haber,
W. Scott Stornetta, and Dave Bayer.[3][6] The identity of Satoshi Nakamoto remains unknown to date. The
implementation of the blockchain within bitcoin made it the first digital currency to solve the double-
spending problem without the need of a trusted authority or central server. The bitcoin design has inspired
other applications[3][2] and blockchains that are readable by the public and are widely used by
cryptocurrencies. The blockchain is considered a type of payment rail.[7]

Private blockchains have been proposed for business use. Computerworld called the marketing of such
privatized blockchains without a proper security model "snake oil";[8] however, others have argued that
permissioned blockchains, if carefully designed, may be more decentralized and therefore more secure in
practice than permissionless ones.[4][9]

Contents
History
Structure
Blocks
Decentralization
Openness
Standardisation
Centralized Blockchain
Types
Public blockchains
 Private blockchains
Hybrid blockchains
Sidechains
Uses
Cryptocurrencies
Smart contracts
Financial services
Games
Supply chain
Domain names
Other uses
Blockchain interoperability
Energy consumption concerns
Academic research
Adoption decision
Collaboration
Blockchain and internal audit
Journals
See also
References
Further reading
External links

History

Bitcoin, Ethereum and Litecoin transactions per day (January 2011 – January 2021)

Cryptographer David Chaum first proposed a blockchain-like protocol in his 1982 dissertation "Computer
Systems Established, Maintained, and Trusted by Mutually Suspicious Groups."[10] Further work on a
cryptographically secured chain of blocks was described in 1991 by Stuart Haber and W. Scott
Stornetta.[4][11] They wanted to implement a system wherein document timestamps could not be tampered
with. In 1992, Haber, Stornetta, and Dave Bayer incorporated Merkle trees into the design, which
improved its efficiency by allowing several document certificates to be collected into one block.[4][12]
Under their company Surety, their document certificate hashes have been published in The New York Times
every week since 1995.[6]

The first decentralized blockchain was conceptualized by a person (or group of people) known as Satoshi
Nakamoto in 2008. Nakamoto improved the design in an important way using a Hashcash-like method to
timestamp blocks without requiring them to be signed by a trusted party and introducing a difficulty
parameter to stabilize the rate at which blocks are added to the chain.[4] The design was implemented the
following year by Nakamoto as a core component of the cryptocurrency bitcoin, where it serves as the
public ledger for all transactions on the network.[3]

In August 2014, the bitcoin blockchain file size, containing records of all transactions that have occurred on
the network, reached 20 GB (gigabytes).[13] In January 2015, the size had grown to almost 30 GB, and
from January 2016 to January 2017, the bitcoin blockchain grew from 50  GB to 100  GB in size. The
ledger size had exceeded 200 GB by early 2020.[14]

The words block and chain were used separately in Satoshi Nakamoto's original paper, but were eventually
popularized as a single word, blockchain, by 2016.[15]

According to Accenture, an application of the diffusion of innovations theory suggests that blockchains
attained a 13.5% adoption rate within financial services in 2016, therefore reaching the early adopters'
phase.[16] Industry trade groups joined to create the Global Blockchain Forum in 2016, an initiative of the
Chamber of Digital Commerce.

In May 2018, Gartner found that only 1% of CIOs indicated any kind of blockchain adoption within their
organisations, and only 8% of CIOs were in the short-term "planning or [looking at] active experimentation
with blockchain".[17] For the year 2019 Gartner reported 5% of CIOs believed blockchain technology was
a 'game-changer' for their business.[18]

Structure
A blockchain is a decentralized, distributed, and oftentimes public, digital ledger consisting of records
called blocks that are used to record transactions across many computers so that any involved block cannot
be altered retroactively, without the alteration of all subsequent blocks.[3][19] This allows the participants to
verify and audit transactions independently and relatively inexpensively.[20] A blockchain database is
managed autonomously using a peer-to-peer network and a distributed timestamping server. They are
authenticated by mass collaboration powered by collective self-interests.[21] Such a design facilitates robust
workflow where participants' uncertainty regarding data security is marginal. The use of a blockchain
removes the characteristic of infinite reproducibility from a digital asset. It confirms that each unit of value
was transferred only once, solving the long-standing problem of double-spending. A blockchain has been
described as a value-exchange protocol.[22] A blockchain can maintain title rights because, when properly
set up to detail the exchange agreement, it provides a record that compels offer and acceptance.

Logically, a blockchain can be seen as consisting of several layers:[23]

infrastructure (hardware)
networking (node discovery, information propagation[24] and verification)
consensus (proof of work, proof of stake)
data (blocks, transactions)
application (smart contracts/decentralized applications, if applicable)
Blocks

Blocks hold batches of valid transactions that are hashed and encoded into a
Merkle tree.[3] Each block includes the cryptographic hash of the prior block
in the blockchain, linking the two. The linked blocks form a chain.[3] This
iterative process confirms the integrity of the previous block, all the way back
to the initial block, which is known as the genesis block.[25] To assure the
integrity of a block and the data contained in it, the block is usually digitally
signed.[26]

Sometimes separate blocks can be produced concurrently, creating a temporary

fork. In addition to a secure hash-based history, any blockchain has a specified
algorithm for scoring different versions of the history so that one with a higher
score can be selected over others. Blocks not selected for inclusion in the chain
are called orphan blocks.[25] Peers supporting the database have different
versions of the history from time to time. They keep only the highest-scoring
version of the database known to them. Whenever a peer receives a higher-
scoring version (usually the old version with a single new block added) they
extend or overwrite their own database and retransmit the improvement to their
peers. There is never an absolute guarantee that any particular entry will
remain in the best version of history forever. Blockchains are typically built to
add the score of new blocks onto old blocks and are given incentives to extend Blockchain formation.
with new blocks rather than overwrite old blocks. Therefore, the probability of The main chain (black)
an entry becoming superseded decreases exponentially[27] as more blocks are consists of the longest
built on top of it, eventually becoming very low.[3][28]: ch. 08 [29] For example, series of blocks from the
bitcoin uses a proof-of-work system, where the chain with the most cumulative genesis block (green) to
proof-of-work is considered the valid one by the network. There are a number the current block.
of methods that can be used to demonstrate a sufficient level of computation. Orphan blocks (purple)
Within a blockchain the computation is carried out redundantly rather than in exist outside of the main
the traditional segregated and parallel manner.[30] chain.

Block time

The block time is the average time it takes for the network to generate one extra block in the blockchain.
Some blockchains create a new block as frequently as every five seconds.[31] By the time of block
completion, the included data becomes verifiable. In cryptocurrency, this is practically when the transaction
takes place, so a shorter block time means faster transactions. The block time for Ethereum is set to between
14 and 15 seconds, while for bitcoin it is on average 10 minutes.[32]

Hard forks

A hard fork is a rule change such that the software validating according to the old rules will see the blocks
produced according to the new rules as invalid. In case of a hard fork, all nodes meant to work in
accordance with the new rules need to upgrade their software. If one group of nodes continues to use the
old software while the other nodes use the new software, a permanent split can occur.

For example, Ethereum was hard-forked in 2016 to "make whole" the investors in The DAO, which had
been hacked by exploiting a vulnerability in its code. In this case, the fork resulted in a split creating
Ethereum and Ethereum Classic chains. In 2014 the Nxt community was asked to consider a hard fork that
would have led to a rollback of the blockchain records to mitigate the effects of a theft of 50 million NXT
from a major cryptocurrency exchange. The hard fork proposal was rejected, and some of the funds were
recovered after negotiations and ransom payment. Alternatively, to prevent a permanent split, a majority of
nodes using the new software may return to the old rules, as was the case of bitcoin split on 12 March
2013.[33]

A more recent hard-fork example is of Bitcoin in 2017, which resulted in a split creating Bitcoin Cash.[34]
The network split was mainly due to a disagreement in how to increase the transactions per second to
accommodate for demand.[35]

Another type of hard fork can occur when an open-source blockchain project is used as a base template for
a completely new cryptocurrency project. One example is the Safex Blockchain, which used Monero code
as a starting point for their 2-coin ecommerce blockchain ecosystem. Safex forked Monero codebase in
April 2018. (between Monero releases v0.12.0.0 and v0.12.1.0) on commit
8fdf645397654956b74d6ddcd79f94bfa7bf2c5f. After the fork, the Safex Team implemented numerous
changes - for first release about 20k lines of source code changes/insertions - to set up the foundation for
the Safex Blockchain, which had its own genesis block for the Proof-of-Work mineable Safex Cash, which
is the medium of exchange currency of the built-in peer-to-peer marketplace.[36]

Decentralization

By storing data across its peer-to-peer network, the blockchain eliminates a number of risks that come with
data being held centrally.[3] The decentralized blockchain may use ad hoc message passing and distributed
networking. One risk of a lack of decentralization is a so-called "51% attack" where a central entity can
gain control of more than half of a network and can manipulate that specific blockchain record at will,
allowing double-spending.[37]

Peer-to-peer blockchain networks lack centralized points of vulnerability that computer crackers can
exploit; likewise, it has no central point of failure. Blockchain security methods include the use of public-
key cryptography.[38]: 5   A public key (a long, random-looking string of numbers) is an address on the
blockchain. Value tokens sent across the network are recorded as belonging to that address. A private key is
like a password that gives its owner access to their digital assets or the means to otherwise interact with the
various capabilities that blockchains now support. Data stored on the blockchain is generally considered
incorruptible.[3]

Every node in a decentralized system has a copy of the blockchain. Data quality is maintained by massive
database replication[39] and computational trust. No centralized "official" copy exists and no user is
"trusted" more than any other.[38] Transactions are broadcast to the network using the software. Messages
are delivered on a best-effort basis. Mining nodes validate transactions,[25] add them to the block they are
building, and then broadcast the completed block to other nodes.[28]: ch. 08  Blockchains use various time-
stamping schemes, such as proof-of-work, to serialize changes.[40] Alternative consensus methods include
proof-of-stake.[25] The growth of a decentralized blockchain is accompanied by the risk of centralization
because the computer resources required to process larger amounts of data become more expensive.[41]

Openness

Open blockchains are more user-friendly than some traditional ownership records, which, while open to the
public, still require physical access to view. Because all early blockchains were permissionless, controversy
has arisen over the blockchain definition. An issue in this ongoing debate is whether a private system with
verifiers tasked and authorized (permissioned) by a central authority should be considered a
blockchain.[42][43][44][45][46] Proponents of permissioned or private chains argue that the term
"blockchain" may be applied to any data structure that batches data into time-stamped blocks. These
blockchains serve as a distributed version of multiversion concurrency control (MVCC) in databases.[47]
Just as MVCC prevents two transactions from concurrently modifying a single object in a database,
blockchains prevent two transactions from spending the same single output in a blockchain.[48]: 3 0–31 
Opponents say that permissioned systems resemble traditional corporate databases, not supporting
decentralized data verification, and that such systems are not hardened against operator tampering and
revision.[42][44] Nikolai Hampton of Computerworld said that "many in-house blockchain solutions will be
nothing more than cumbersome databases," and "without a clear security model, proprietary blockchains
should be eyed with suspicion."[8][49]

Permissionlessness

An advantage to an open, permissionless, or public, blockchain network is that guarding against bad actors
is not required and no access control is needed.[27] This means that applications can be added to the
network without the approval or trust of others, using the blockchain as a transport layer.[27]

Bitcoin and other cryptocurrencies currently secure their blockchain by requiring new entries to include
proof of work. To prolong the blockchain, bitcoin uses Hashcash puzzles. While Hashcash was designed in
1997 by Adam Back, the original idea was first proposed by Cynthia Dwork and Moni Naor and Eli
Ponyatovski in their 1992 paper "Pricing via Processing or Combatting Junk Mail".

In 2016, venture capital investment for blockchain-related projects was weakening in the USA but
increasing in China.[50] Bitcoin and many other cryptocurrencies use open (public) blockchains. As of
April 2018, bitcoin has the highest market capitalization.

Permissioned (private) blockchain

Permissioned blockchains use an access control layer to govern who has access to the network.[51] In
contrast to public blockchain networks, validators on private blockchain networks are vetted by the
network owner. They do not rely on anonymous nodes to validate transactions nor do they benefit from the
network effect.[52] Permissioned blockchains can also go by the name of 'consortium' blockchains.[53] It
has been argued that permissioned blockchains can guarantee a certain level of decentralization, if carefully
designed, as opposed to permissionless blockchains, which are often centralized in practice.[9]

Disadvantages of private blockchain

Nikolai Hampton pointed out in Computerworld that "There is also no need for a '51 percent' attack on a
private blockchain, as the private blockchain (most likely) already controls 100 percent of all block creation
resources. If you could attack or damage the blockchain creation tools on a private corporate server, you
could effectively control 100 percent of their network and alter transactions however you wished."[8] This
has a set of particularly profound adverse implications during a financial crisis or debt crisis like the
financial crisis of 2007–08, where politically powerful actors may make decisions that favor some groups at
the expense of others,[54] and "the bitcoin blockchain is protected by the massive group mining effort. It's
unlikely that any private blockchain will try to protect records using gigawatts of computing power — it's
time-consuming and expensive."[8] He also said, "Within a private blockchain there is also no 'race'; there's
no incentive to use more power or discover blocks faster than competitors. This means that many in-house
blockchain solutions will be nothing more than cumbersome databases."[8]

Blockchain analysis
The analysis of public blockchains has become increasingly important with the popularity of bitcoin,
Ethereum, litecoin and other cryptocurrencies.[55] A blockchain, if it is public, provides anyone who wants
access to observe and analyse the chain data, given one has the know-how. The process of understanding
and accessing the flow of crypto has been an issue for many cryptocurrencies, crypto exchanges and
banks.[56][57] The reason for this is accusations of blockchain-enabled cryptocurrencies enabling illicit dark
market trade of drugs, weapons, money laundering, etc.[58] A common belief has been that cryptocurrency
is private and untraceable, thus leading many actors to use it for illegal purposes. This is changing and now
specialised tech companies provide blockchain tracking services, making crypto exchanges, law-
enforcement and banks more aware of what is happening with crypto funds and fiat-crypto exchanges. The
development, some argue, has led criminals to prioritise the use of new cryptos such as Monero.[59][60][61]
The question is about the public accessibility of blockchain data and the personal privacy of the very same
data. It is a key debate in cryptocurrency and ultimately in the blockchain.[62]

Standardisation

In April 2016, Standards Australia submitted a proposal to the International Organization for
Standardization to consider developing standards to support blockchain technology. This proposal resulted
in the creation of ISO Technical Committee 307, Blockchain and Distributed Ledger Technologies.[63] The
technical committee has working groups relating to blockchain terminology, reference architecture, security
and privacy, identity, smart contracts, governance and interoperability for blockchain and DLT, as well as
standards specific to industry sectors and generic government requirements.[64] More than 50 countries are
participating in the standardization process together with external liaisons such as the Society for
Worldwide Interbank Financial Telecommunication (SWIFT), the European Commission, the International
Federation of Surveyors, the International Telecommunication Union (ITU) and the United Nations
Economic Commission for Europe (UNECE).[64]

Many other national standards bodies and open standards bodies are also working on blockchain
standards.[65] These include the National Institute of Standards and Technology[66] (NIST), the European
Committee for Electrotechnical Standardization[67] (CENELEC), the Institute of Electrical and Electronics
Engineers[68] (IEEE), the Organization for the Advancement of Structured Information Standards
(OASIS), and some individual participants in the Internet Engineering Task Force[69] (IETF).

Centralized Blockchain

Although most of blockchain implementation are decentralised and distributed, Oracle launched a
centralised blockchain table feature in Oracle 21c database. The Blockchain Table in Oracle 21c database is
a centralised blockchain which provide immutable feauture. Compared to decentralized blockchains,
centralized blockchains normally can provide a higher throughput and lower latency of transactions than
consensus-based distributed blockchains.[70][71]

Types
Currently, there are at least four types of blockchain networks — public blockchains, private blockchains,
consortium blockchains and hybrid blockchains.

Public blockchains
A public blockchain has absolutely no access restrictions. Anyone with an Internet connection can send
transactions to it as well as become a validator (i.e., participate in the execution of a consensus
protocol).[72] Usually, such networks offer economic incentives for those who secure them and utilize some
type of a Proof of Stake or Proof of Work algorithm.

Some of the largest, most known public blockchains are the bitcoin blockchain and the Ethereum
blockchain.

Private blockchains

A private blockchain is permissioned.[51] One cannot join it unless invited by the network administrators.
Participant and validator access is restricted. To distinguish between open blockchains and other peer-to-
peer decentralized database applications that are not open ad-hoc compute clusters, the terminology
Distributed Ledger (DLT) is normally used for private blockchains.

Hybrid blockchains

A hybrid blockchain has a combination of centralized and decentralized features.[73] The exact workings of
the chain can vary based on which portions of centralization and decentralization are used.

Sidechains

A sidechain is a designation for a blockchain ledger that runs in parallel to a primary blockchain.[74][75]
Entries from the primary blockchain (where said entries typically represent digital assets) can be linked to
and from the sidechain; this allows the sidechain to otherwise operate independently of the primary
blockchain (e.g., by using an alternate means of record keeping, alternate consensus algorithm, etc.).[76]

Uses
Blockchain technology can be integrated into multiple areas. The
primary use of blockchains is as a distributed ledger for
cryptocurrencies such as bitcoin; there were also a few other
operational products that had matured from proof of concept by late
2016.[50] As of 2016, some businesses have been testing the
technology and conducting low-level implementation to gauge
blockchain's effects on organizational efficiency in their back
office.[77]

In 2019, it was estimated that around $2.9 billion were invested in

blockchain technology, which represents an 89% increase from the
year prior. Additionally, the International Data Corp has estimated
Bitcoin's transactions are recorded
that corporate investment into blockchain technology will reach
[78] on a publicly viewable blockchain.
$12.4 billion by 2022. Furthermore, According to
PricewaterhouseCoopers (PwC), the second-largest professional
services network in the world, blockchain technology has the
potential to generate an annual business value of more than $3 trillion by 2030. PwC's estimate is further
augmented by a 2018 study that they have conducted, in which PwC surveyed 600 business executives and
determined that 84% have at least some exposure to utilizing blockchain technology, which indicts a
significant demand and interest in blockchain technology.[79]
Individual use of blockchain technology has also greatly increased since 2016. According to statistics in
2020, there were more than 40 million blockchain wallets in 2020 in comparison to around 10 million
blockchain wallets in 2016.[80]

Cryptocurrencies

Most cryptocurrencies use blockchain technology to record transactions. For example, the bitcoin network
and Ethereum network are both based on blockchain. On 8 May 2018 Facebook confirmed that it would
open a new blockchain group[81] which would be headed by David Marcus, who previously was in charge
of Messenger. Facebook's planned cryptocurrency platform, Libra (now known as Diem), was formally
announced on June 18, 2019.[82][83]

The criminal enterprise Silk Road, which operated on Tor, utilized cryptocurrency for payments, some of
which the US federal government has seized through research on the blockchain and forfeiture.[84]

Governments have mixed policies on the legality of their citizens or banks owning cryptocurrencies. China
implements blockchain technology in several industries including a national digital currency which
launched in 2020.[85] To strengthen their respective currencies, Western governments including the
European Union and the United States have initiated similar projects.[86]

Smart contracts

Blockchain-based smart contracts are proposed contracts that can be partially or fully executed or enforced
without human interaction.[87] One of the main objectives of a smart contract is automated escrow. A key
feature of smart contracts is that they do not need a trusted third party (such as a trustee) to act as an
intermediary between contracting entities — the blockchain network executes the contract on its own. This
may reduce friction between entities when transferring value and could subsequently open the door to a
higher level of transaction automation.[88] An IMF staff discussion from 2018 reported that smart contracts
based on blockchain technology might reduce moral hazards and optimize the use of contracts in general.
But "no viable smart contract systems have yet emerged." Due to the lack of widespread use their legal
status was unclear.[89][90]

Financial services

According to Reason, many banks have expressed interest in implementing distributed ledgers for use in
banking and are cooperating with companies creating private blockchains,[91][92][93] and according to a
September 2016 IBM study, this is occurring faster than expected.[94]

Banks are interested in this technology not least because it has the potential to speed up back office
settlement systems.[95] Moreover, as the blockchain industry has reached early maturity institutional
appreciation has grown that it is, practically speaking, the infrastructure of a whole new financial industry,
with all the implications which that entails.[96]

Banks such as UBS are opening new research labs dedicated to blockchain technology in order to explore
how blockchain can be used in financial services to increase efficiency and reduce costs.[97][98]

Berenberg, a German bank, believes that blockchain is an "overhyped technology" that has had a large
number of "proofs of concept", but still has major challenges, and very few success stories.[99]
The blockchain has also given rise to initial coin offerings (ICOs) as well as a new category of digital asset
called security token offerings (STOs), also sometimes referred to as digital security offerings (DSOs).[100]
STO/DSOs may be conducted privately or on public, regulated stock exchange and are used to tokenize
traditional assets such as company shares as well as more innovative ones like intellectual property, real
estate,[101] art, or individual products. A number of companies are active in this space providing services
for compliant tokenization, private STOs, and public STOs.

Games

Blockchain technology, such as cryptocurrencies and non-fungible tokens (NFTs), has been used in video
games for monetization. Many live-service games offer in-game customization options, such as character
skins or other in-game items, which the players can earn and trade with other players using in-game
currency. Some games also allow for trading of virtual items using real-world currency, but this may be
illegal in some countries where video games are seen as akin to gambling, and has led to gray market issues
such as skin gambling, and thus publishers typically have shied away from allowing players to earn real-
world funds from games.[102] Blockchain games typically allow players to trade these in-game items for
cryptocurrency, which can then be exchanged for money.[103]

The first known game to use blockchain technologies was CryptoKitties, launched in November 2017,
where the player would purchase NFTs with Ethereum cryptocurrency, each NFT consisting of a virtual
pet that the player could breed with others to create offspring with combined traits as new NFTs.[104][103]
The game made headlines in December 2017 when one virtual pet sold for more than US$100,000.[105]
CryptoKitties also illustrated scalability problems for games on Ethereum when it created significant
congestion on the Ethereum network in early 2018 with approximately 30% of all Ethereum transactions
being for the game.[106][107]

By the early 2020s, there had not been a breakout success in video games using blockchain, as these games
tend to focus on using blockchain for speculation instead of more traditional forms of gameplay, which
offers limited appeal to most players. Such games also represent a high risk to investors as their revenues
can be difficult to predict.[103] However, limited successes of some games, such as Axie Infinity during the
COVID-19 pandemic, and corporate plans towards metaverse content, refueled interest in the area of
GameFi, a term describing the intersection of video games and financing typically backed by blockchain
currency, in the second half of 2021.[108] Several major publishers, including Ubisoft, Electronic Arts, and
Take Two Interactive, have stated that blockchain and NFT-based games are under serious consideration
for their companies in the future.[109]

In October 2021, Valve Corporation banned blockchain games, including those using cryptocurrency and
NFTs, from being hosted on its Steam digital storefront service, which is widely used for personal computer
gaming, claiming that this was an extension of their policy banning games that offered in-game items with
real-world value. Valve's prior history with gambling, specifically skin gambling, was speculated to be a
factor in the decision to ban blockchain games.[110] Journalists and players responded positively to Valve's
decision as blockchain and NFT games have a reputation for scams and fraud among most PC
gamers,[102][110] Epic Games, which runs the Epic Games Store in competition to Steam, said that they
would be open to accepted blockchain games, in the wake of Valve's refusal.[111]

Supply chain

There have been several different efforts to employ blockchains in supply chain management.
 Precious commodities mining — Blockchain technology has been used for tracking the
origins of gemstones and other precious commodities. In 2016, The Wall Street Journal
reported that the blockchain technology company Everledger was partnering with IBM's
blockchain-based tracking service to trace the origin of diamonds to ensure that they were
ethically mined.[112] As of 2019, the Diamond Trading Company (DTC) has been involved in
building a diamond trading supply chain product called Tracr.[113]
Food supply — As of 2018, Walmart and IBM were running a trial to use a blockchain-
backed system for supply chain monitoring for lettuce and spinach — all nodes of the
blockchain were administered by Walmart and were located on the IBM cloud.[114]
Fashion industry — There is an opaque relationship between brands, distributors, and
customers in the fashion industry, which will prevent the sustainable and stable
development of the fashion industry. Blockchain makes up for this shortcoming and makes
information transparent, solving the difficulty of sustainable development of the industry.[115]

Domain names

There are several different efforts to offer domain name services via the blockchain. These domain names
can be controlled by the use of a private key, which purports to allow for uncensorable websites. This
would also bypass a registrar's ability to suppress domains used for fraud, abuse, or illegal content.[116]

Namecoin is a cryptocurrency that supports the ".bit" top-level domain (TLD). Namecoin was forked from
bitcoin in 2011. The .bit TLD is not sanctioned by ICANN, instead requiring an alternative DNS root.[116]
As of 2015, it was used by 28 websites, out of 120,000 registered names.[117] Namecoin was dropped by
OpenNIC in 2019, due to malware and potential other legal issues.[118] Other blockchain alternatives to
ICANN include The Handshake Network,[117] EmerDNS, and Unstoppable Domains.[116]

Specific TLDs include ".eth", ".luxe", and ".kred", which are associated with the Ethereum blockchain
through the Ethereum Name Service (ENS). The .kred TLD also acts as an alternative to conventional
cryptocurrency wallet addresses, as a convenience for transferring cryptocurrency.[119]

Other uses

Blockchain technology can be used to create a permanent, public, transparent ledger system for compiling
data on sales, tracking digital use and payments to content creators, such as wireless users[120] or
musicians.[121] The Gartner 2019 CIO Survey reported 2% of higher education respondents had launched
blockchain projects and another 18% were planning academic projects in the next 24 months.[122] In 2017,
IBM partnered with ASCAP and PRS for Music to adopt blockchain technology in music distribution.[123]
Imogen Heap's Mycelia service has also been proposed as a blockchain-based alternative "that gives artists
more control over how their songs and associated data circulate among fans and other musicians."[124][125]

New distribution methods are available for the insurance industry such as peer-to-peer insurance,
parametric insurance and microinsurance following the adoption of blockchain.[126][127] The sharing
economy and IoT are also set to benefit from blockchains because they involve many collaborating
peers.[128] The use of blockchain in libraries is being studied with a grant from the U.S. Institute of
Museum and Library Services.[129]

Other blockchain designs include Hyperledger, a collaborative effort from the Linux Foundation to support
blockchain-based distributed ledgers, with projects under this initiative including Hyperledger Burrow (by
Monax) and Hyperledger Fabric (spearheaded by IBM).[130][131][132] Another is Quorum, a
permissionable private blockchain by JPMorgan Chase with private storage, used for contract
applications.[133]

Oracle introduced a blockchain table feature in its Oracle 21c database.[70][71]

Blockchain is also being used in peer-to-peer energy trading.[134][135][136]

Blockchain could be used in detecting counterfeits by associating unique identifiers to products, documents
and shipments, and storing records associated with transactions that cannot be forged or altered.[137][138] It
is however argued that blockchain technology needs to be supplemented with technologies that provide a
strong binding between physical objects and blockchain systems.[139] The EUIPO established an Anti-
Counterfeiting Blockathon Forum, with the objective of "defining, piloting and implementing" an anti-
counterfeiting infrastructure at the European level.[140][141] The Dutch Standardisation organisation NEN
uses blockchain together with QR Codes to authenticate certificates.[142]

Blockchain interoperability
With the increasing number of blockchain systems appearing, even only those that support
cryptocurrencies, blockchain interoperability is becoming a topic of major importance. The objective is to
support transferring assets from one blockchain system to another blockchain system. Wegner[143] stated
that "interoperability is the ability of two or more software components to cooperate despite differences in
language, interface, and execution platform". The objective of blockchain interoperability is therefore to
support such cooperation among blockchain systems, despite those kinds of differences.

There are already several blockchain interoperability solutions available.[144] They can be classified into
three categories: cryptocurrency interoperability approaches, blockchain engines, and blockchain
connectors.

Several individual IETF participants produced the draft of a blockchain interoperability architecture.[145]

Energy consumption concerns

Blockchain mining — the peer-to-peer computer computations by which transactions are validated and
verified — requires a significant amount of energy. In June 2018 the Bank for International Settlements
criticized the use of public proof-of-work blockchains for their high energy consumption.[146][147][148] In
2021, a study by Cambridge University determined that Bitcoin (at 121 terawatt-hours per year) used more
electricity than Argentina (at 121TWh) and the Netherlands (109TWh).[149] According to Digiconomist,
one bitcoin transaction required 708 kilowatt-hours of electrical energy, the amount an average U.S.
household consumed in 24 days.[150]

In February 2021, U.S. Treasury secretary Janet Yellen called Bitcoin "an extremely inefficient way to
conduct transactions", saying "the amount of energy consumed in processing those transactions is
staggering."[151] In March 2021, Bill Gates stated that "Bitcoin uses more electricity per transaction than
any other method known to mankind", adding "It's not a great climate thing."[152]

Nicholas Weaver, of the International Computer Science Institute at the University of California, Berkeley,
examined blockchain's online security, and the energy efficiency of proof-of-work public blockchains, and
in both cases found it grossly inadequate.[153][154] The 31TWh–45TWh of electricity used for bitcoin in
2018 produced 17–22.9 million tonnes of CO2.[155][156] By 2022, the University of Cambridge and
Digiconomist estimated that the two largest proof-of-work blockchains, Bitcoin and Ethereum, together
used twice as much electricity in one year as the whole of Sweden, leading to the release of up to 120
million tonnes of CO2 each year.[157]

Inside the cryptocurrency industry, concern about high energy consumption has led some companies to
consider moving from the proof of work blockchain model to the less energy-intensive proof of stake
model.[158] Academics and researchers have estimated that Bitcoin consumes 100,000 times as much
energy as proof-of-stake networks.[159][160]

Academic research
In October 2014, the MIT Bitcoin Club, with funding from MIT
alumni, provided undergraduate students at the Massachusetts
Institute of Technology access to $100 of bitcoin. The adoption
rates, as studied by Catalini and Tucker (2016), revealed that when
people who typically adopt technologies early are given delayed
access, they tend to reject the technology.[161] Many universities
have founded departments focusing on crypto and blockchain,
Blockchain panel discussion at the
including MIT, in 2017. In the same year, Edinburgh became "one
first IEEE Computer Society
of the first big European universities to launch a blockchain
TechIgnite conference
course", according to the Financial Times.[162]

Adoption decision

Motivations for adopting blockchain technology (an aspect of innovation adoptation) have been
investigated by researchers. For example, Janssen, et al. provided a framework for analysis,[163] and Koens
& Poll pointed out that adoption could be heavily driven by non-technical factors.[164] Based on behavioral
models, Li[165] has discussed the differences between adoption at the individual level and organizational
levels.

Collaboration

Scholars in business and management have started studying the role of blockchains to support
collaboration.[166][167] It has been argued that blockchains can foster both cooperation (i.e., prevention of
opportunistic behavior) and coordination (i.e., communication and information sharing). Thanks to
reliability, transparency, traceability of records, and information immutability, blockchains facilitate
collaboration in a way that differs both from the traditional use of contracts and from relational norms.
Contrary to contracts, blockchains do not directly rely on the legal system to enforce agreements.[168] In
addition, contrary to the use of relational norms, blockchains do not require a trust or direct connections
between collaborators.

Blockchain and internal audit

External video
The need for internal audits to provide effective oversight of
organizational efficiency will require a change in the way that Blockchain Basics &
information is accessed in new formats.[170] Blockchain adoption Cryptography (https://www.youtube.
requires a framework to identify the risk of exposure associated com/watch?v=0UvVOMZqpEA),
with transactions using blockchain. The Institute of Internal
Auditors has identified the need for internal auditors to address Gary Gensler, Massachusetts
this transformational technology. New methods are required to Institute of Technology, 0:30[169]
develop audit plans that identify threats and risks. The Internal
Audit Foundation study, Blockchain and Internal Audit, assesses
these factors.[171] The American Institute of Certified Public Accountants has outlined new roles for
auditors as a result of blockchain.[172]

Journals

In September 2015, the first peer-reviewed academic journal dedicated to cryptocurrency and blockchain
technology research, Ledger, was announced. The inaugural issue was published in December 2016.[173]
The journal covers aspects of mathematics, computer science, engineering, law, economics and philosophy
that relate to cryptocurrencies such as bitcoin.[174][175]

The journal encourages authors to digitally sign a file hash of submitted papers, which are then
timestamped into the bitcoin blockchain. Authors are also asked to include a personal bitcoin address on the
first page of their papers for non-repudiation purposes.[176]

See also
Changelog – a record of all notable changes made to a project
Checklist – an informational aid used to reduce failure
Economics of digitization
Privacy and blockchain
Version control – a record of all changes (mostly of software project) in a form of a graph

References
1. Morris, David Z. (15 May 2016). "Leaderless, Blockchain-Based Venture Capital Fund
Raises $100 Million, And Counting" (http://fortune.com/2016/05/15/leaderless-blockchain-vc
-fund/). Fortune. Archived (https://web.archive.org/web/20160521015602/http://fortune.com/2
016/05/15/leaderless-blockchain-vc-fund/) from the original on 21 May 2016. Retrieved
23 May 2016.
2. Popper, Nathan (21 May 2016). "A Venture Fund With Plenty of Virtual Capital, but No
Capitalist" (https://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-curr
ency.html). The New York Times. Archived (https://web.archive.org/web/20160522034932/ht
tp://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html)
from the original on 22 May 2016. Retrieved 23 May 2016.
3. "Blockchains: The great chain of being sure about things" (https://www.economist.com/new
s/briefing/21677228-technology-behind-bitcoin-lets-people-who-do-not-know-or-trust-each-o
ther-build-dependable). The Economist. 31 October 2015. Archived (https://web.archive.org/
web/20160703000844/http://www.economist.com/news/briefing/21677228-technology-behin
d-bitcoin-lets-people-who-do-not-know-or-trust-each-other-build-dependable) from the
original on 3 July 2016. Retrieved 18 June 2016. "The technology behind bitcoin lets people
who do not know or trust each other build a dependable ledger. This has implications far
beyond the crypto currency."
4. Narayanan, Arvind; Bonneau, Joseph; Felten, Edward; Miller, Andrew; Goldfeder, Steven
(2016). Bitcoin and cryptocurrency technologies: a comprehensive introduction. Princeton:
Princeton University Press. ISBN 978-0-691-17169-2.
 5. Iansiti, Marco; Lakhani, Karim R. (January 2017). "The Truth About Blockchain" (https://hbr.o
rg/2017/01/the-truth-about-blockchain). Harvard Business Review. Harvard University.
Archived (https://web.archive.org/web/20170118052537/https://hbr.org/2017/01/the-truth-abo
ut-blockchain) from the original on 18 January 2017. Retrieved 17 January 2017. "The
technology at the heart of bitcoin and other virtual currencies, blockchain is an open,
distributed ledger that can record transactions between two parties efficiently and in a
verifiable and permanent way."
6. "The World's Oldest Blockchain Has Been Hiding in the New York Times Since 1995" (http
s://www.vice.com/en/article/j5nzx4/what-was-the-first-blockchain). www.vice.com. Retrieved
9 October 2021.
7. "Blockchain may finally disrupt payments from Micropayments to credit cards to SWIFT" (htt
ps://dailyfintech.com/2018/02/10/bitcoin-will-finally-disrupt-the-credit-card-rails/).
dailyfintech.com. 10 February 2018. Archived (https://web.archive.org/web/2018092700561
3/https://dailyfintech.com/2018/02/10/bitcoin-will-finally-disrupt-the-credit-card-rails/) from the
original on 27 September 2018. Retrieved 18 November 2018.
8. Hampton, Nikolai (5 September 2016). "Understanding the blockchain hype: Why much of it
is nothing more than snake oil and spin" (https://www2.computerworld.com.au/article/60625
3/understanding-blockchain-hype-why-much-it-nothing-more-than-snake-oil-spin/).
Computerworld. Archived (https://web.archive.org/web/20160906171838/http://www.comput
erworld.com.au/article/606253/understanding-blockchain-hype-why-much-it-nothing-more-th
an-snake-oil-spin/) from the original on 6 September 2016. Retrieved 5 September 2016.
9. Bakos, Yannis; Halaburda, Hanna; Mueller-Bloch, Christoph (February 2021). "When
Permissioned Blockchains Deliver More Decentralization Than Permissionless".
Communications of the ACM. 64 (2): 20–22. doi:10.1145/3442371 (https://doi.org/10.1145%
2F3442371). S2CID 231704491 (https://api.semanticscholar.org/CorpusID:231704491).
10. Sherman, Alan T.; Javani, Farid; Zhang, Haibin; Golaszewski, Enis (January 2019). "On the
Origins and Variations of Blockchain Technologies". IEEE Security Privacy. 17 (1): 72–77.
arXiv:1810.06130 (https://arxiv.org/abs/1810.06130). doi:10.1109/MSEC.2019.2893730 (http
s://doi.org/10.1109%2FMSEC.2019.2893730). ISSN 1558-4046 (https://www.worldcat.org/is
sn/1558-4046). S2CID 53114747 (https://api.semanticscholar.org/CorpusID:53114747).
11. Haber, Stuart; Stornetta, W. Scott (January 1991). "How to time-stamp a digital document".
Journal of Cryptology. 3 (2): 99–111. CiteSeerX 10.1.1.46.8740 (https://citeseerx.ist.psu.edu/
viewdoc/summary?doi=10.1.1.46.8740). doi:10.1007/bf00196791 (https://doi.org/10.1007%2
Fbf00196791). S2CID 14363020 (https://api.semanticscholar.org/CorpusID:14363020).
12. Bayer, Dave; Haber, Stuart; Stornetta, W. Scott (March 1992). Improving the Efficiency and
Reliability of Digital Time-Stamping. Sequences. Vol. 2. pp. 329–334.
CiteSeerX 10.1.1.71.4891 (https://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.71.48
91). doi:10.1007/978-1-4613-9323-8_24 (https://doi.org/10.1007%2F978-1-4613-9323-
8_24). ISBN 978-1-4613-9325-2.
13. Nian, Lam Pak; Chuen, David LEE Kuo (2015). "A Light Touch of Regulation for Virtual
Currencies". In Chuen, David LEE Kuo (ed.). Handbook of Digital Currency: Bitcoin,
Innovation, Financial Instruments, and Big Data. Academic Press. p. 319. ISBN 978-0-12-
802351-8.
14. "Blockchain Size" (https://www.blockchain.com/en/charts/blocks-size?scale=1&timespan=al
l&showDataPoints=true). Archived (https://web.archive.org/web/20200519024720/https://ww
w.blockchain.com/en/charts/blocks-size?scale=1&timespan=all&showDataPoints=true) from
the original on 19 May 2020. Retrieved 25 February 2020.
15. Johnsen, Maria (12 May 2020). Blockchain in Digital Marketing: A New Paradigm of Trust (ht
tps://books.google.com/books?id=uVbjDwAAQBAJ&pg=PA6). Maria Johnsen. p. 6.
ISBN 979-8-6448-7308-1.
16. "The future of blockchain in 8 charts" (http://raconteur.net/business/the-future-of-blockchain-i
n-8-charts). Raconteur. 27 June 2016. Archived (https://web.archive.org/web/201612022341
25/http://raconteur.net/business/the-future-of-blockchain-in-8-charts) from the original on 2
December 2016. Retrieved 3 December 2016.
17. "Hype Killer - Only 1% of Companies Are Using Blockchain, Gartner Reports | Artificial
Lawyer" (https://www.artificiallawyer.com/2018/05/04/hype-killer-only-1-of-companies-are-us
ing-blockchain-gartner-reports/). Artificial Lawyer. 4 May 2018. Archived (https://web.archive.
org/web/20180522111623/https://www.artificiallawyer.com/2018/05/04/hype-killer-only-1-of-
companies-are-using-blockchain-gartner-reports/) from the original on 22 May 2018.
Retrieved 22 May 2018.
18. Kasey Panetta. (31 October 2018). "Digital Business: CIO Agenda 2019: Exploit
Transformational Technologies." Gartner website (https://www.gartner.com/smarterwithgartn
er/cio-agenda-2019-exploit-transformational-technologies/) Retrieved 27 March 2021.
19. Armstrong, Stephen (7 November 2016). "Move over Bitcoin, the blockchain is only just
getting started" (https://www.wired.co.uk/article/unlock-the-blockchain). Wired. Archived (http
s://web.archive.org/web/20161108130946/http://www.wired.co.uk/article/unlock-the-blockch
ain) from the original on 8 November 2016. Retrieved 9 November 2016.
20. Catalini, Christian; Gans, Joshua S. (23 November 2016). "Some Simple Economics of the
Blockchain" (http://www.nber.org/papers/w22952.pdf) (PDF). SSRN.
doi:10.2139/ssrn.2874598 (https://doi.org/10.2139%2Fssrn.2874598). hdl:1721.1/130500 (ht
tps://hdl.handle.net/1721.1%2F130500). S2CID 46904163 (https://api.semanticscholar.org/C
orpusID:46904163). SSRN 2874598 (https://ssrn.com/abstract=2874598). Archived (https://
web.archive.org/web/20200306014931/https://www.nber.org/papers/w22952.pdf) (PDF) from
the original on 6 March 2020. Retrieved 16 September 2019.
21. Tapscott, Don; Tapscott, Alex (8 May 2016). "Here's Why Blockchains Will Change the
World" (http://fortune.com/2016/05/08/why-blockchains-will-change-the-world/). Fortune.
Archived (https://web.archive.org/web/20161113134748/http://fortune.com/2016/05/08/why-b
lockchains-will-change-the-world/) from the original on 13 November 2016. Retrieved
16 November 2016.
22. Bheemaiah, Kariappa (January 2015). "Block Chain 2.0: The Renaissance of Money" (http
s://www.wired.com/insights/2015/01/block-chain-2-0/). Wired. Archived (https://web.archive.o
rg/web/20161114001509/https://www.wired.com/insights/2015/01/block-chain-2-0/) from the
original on 14 November 2016. Retrieved 13 November 2016.
23. Chen, Huashan; Pendleton, Marcus; Njilla, Laurent; Xu, Shouhuai (12 June 2020). "A
Survey on Ethereum Systems Security: Vulnerabilities, Attacks, and Defenses" (https://arxiv.
org/abs/1908.04507). ACM Computing Surveys. 53 (3): 3–4. arXiv:1908.04507 (https://arxiv.
org/abs/1908.04507). doi:10.1145/3391195 (https://doi.org/10.1145%2F3391195).
ISSN 0360-0300 (https://www.worldcat.org/issn/0360-0300). S2CID 199551841 (https://api.s
emanticscholar.org/CorpusID:199551841).
24. Shishir, Bhatia (2 February 2006). Structured Information Flow (SIF) Framework for
Automating End-to-End Information Flow for Large Organizations (https://vtechworks.lib.vt.e
du/handle/10919/31148) (Thesis). Virginia Tech.
25. Bhaskar, Nirupama Devi; Chuen, David LEE Kuo (2015). "Bitcoin Mining Technology".
Handbook of Digital Currency. pp. 45–65. doi:10.1016/B978-0-12-802117-0.00003-5 (https://
doi.org/10.1016%2FB978-0-12-802117-0.00003-5). ISBN 978-0-12-802117-0.
26. Knirsch, Unterweger & Engel 2019, p. 2.
27. Antonopoulos, Andreas (20 February 2014). "Bitcoin security model: trust by computation" (h
ttp://radar.oreilly.com/2014/02/bitcoin-security-model-trust-by-computation.html). Radar.
O'Reilly. Archived (https://web.archive.org/web/20161031132328/http://radar.oreilly.com/201
4/02/bitcoin-security-model-trust-by-computation.html) from the original on 31 October 2016.
Retrieved 19 November 2016.
28. Antonopoulos, Andreas M. (2014). Mastering Bitcoin. Unlocking Digital Cryptocurrencies (htt
ps://web.archive.org/web/20161201131627/http://chimera.labs.oreilly.com/books/123400000
1802/ch01.html). Sebastopol, CA: O'Reilly Media. ISBN 978-1449374037. Archived from the
original (http://chimera.labs.oreilly.com/books/1234000001802/ch01.html) on 1 December
2016. Retrieved 3 November 2015.
29. Nakamoto, Satoshi (October 2008). "Bitcoin: A Peer-to-Peer Electronic Cash System" (http
s://bitcoin.org/bitcoin.pdf) (PDF). bitcoin.org. Archived (https://web.archive.org/web/2014032
0135003/https://bitcoin.org/bitcoin.pdf) (PDF) from the original on 20 March 2014. Retrieved
28 April 2014.
30. "Permissioned Blockchains" (https://monax.io/explainers/permissioned_blockchains/).
Explainer. Monax. Archived (https://web.archive.org/web/20161120154948/https://monax.io/
explainers/permissioned_blockchains/) from the original on 20 November 2016. Retrieved
20 November 2016.
31. Strydom, Moses; Buckley, Sheryl (July 2019). AI and Big Data's Potential for Disruptive
Innovation (http://www.igi-global.com/book/big-data-potential-disruptive-innovation/222833).
IGI Global. ISBN 978-1-5225-9687-5.
32. Kumar, Randhir; Tripathi, Rakesh (November 2019). "Implementation of Distributed File
Storage and Access Framework using IPFS and Blockchain". 2019 Fifth International
Conference on Image Information Processing (ICIIP). IEEE: 246–251.
doi:10.1109/iciip47207.2019.8985677 (https://doi.org/10.1109%2Ficiip47207.2019.898567
7). ISBN 978-1-7281-0899-5. S2CID 211119043 (https://api.semanticscholar.org/CorpusID:2
11119043).
33. Lee, Timothy (12 March 2013). "Major glitch in Bitcoin network sparks sell-off; price
temporarily falls 23%" (https://arstechnica.com/business/2013/03/major-glitch-in-bitcoin-netw
ork-sparks-sell-off-price-temporarily-falls-23/). Arstechnica. Archived (https://www.webcitatio
n.org/6G4e02Xd1?url=http://arstechnica.com/business/2013/03/major-glitch-in-bitcoin-netwo
rk-sparks-sell-off-price-temporarily-falls-23/) from the original on 22 April 2013. Retrieved
25 February 2018.
34. Smith, Oli (21 January 2018). "Bitcoin price RIVAL: Cryptocurrency 'faster than bitcoin' will
CHALLENGE market leaders" (https://www.express.co.uk/finance/city/907536/cryptocurrenc
y-bitcoin-market-leader-cash-ripple-ethereum). Express. Retrieved 6 April 2021.
35. "Bitcoin split in two, here's what that means" (https://money.cnn.com/2017/08/01/technology/
business/bitcoin-cash-new-currency/index.html). CNN. 1 August 2017. Retrieved 7 April
2021.
36. "Safexcore Wiki Introduction" (https://github.com/VanGrx/safexcore/wiki/Introduction). GitHub
Safexcore Wiki Introduction. Retrieved 29 April 2022.
37. "Bitcoin Spinoff Hacked in Rare '51% Attack' " (https://fortune.com/2018/05/29/bitcoin-gold-h
ack/). Fortune. Retrieved 28 April 2021.
38. Brito, Jerry; Castillo, Andrea (2013). Bitcoin: A Primer for Policymakers (http://mercatus.org/s
ites/default/files/Brito_BitcoinPrimer.pdf) (PDF) (Report). Fairfax, VA: Mercatus Center,
George Mason University. Archived (https://web.archive.org/web/20130921060724/http://mer
catus.org/sites/default/files/Brito_BitcoinPrimer.pdf) (PDF) from the original on 21 September
2013. Retrieved 22 October 2013.
39. Raval, Siraj (2016). Decentralized Applications: Harnessing Bitcoin's Blockchain
Technology (https://books.google.com/books?id=fvywDAAAQBAJ). O'Reilly Media, Inc.
pp. 1 (https://books.google.com/books?id=fvywDAAAQBAJ&pg=PA1)–2 (https://books.googl
e.com/books?id=fvywDAAAQBAJ). ISBN 978-1-4919-2452-5.
40. Kopfstein, Janus (12 December 2013). "The Mission to Decentralize the Internet" (https://ww
w.newyorker.com/tech/elements/the-mission-to-decentralize-the-internet). The New Yorker.
Archived (https://web.archive.org/web/20141231031044/http://www.newyorker.com/tech/ele
ments/the-mission-to-decentralize-the-internet) from the original on 31 December 2014.
Retrieved 30 December 2014. "The network's 'nodes' — users running the bitcoin software
on their computers — collectively check the integrity of other nodes to ensure that no one
spends the same coins twice. All transactions are published on a shared public ledger,
called the 'block chain.'"
41. Gervais, Arthur; Karame, Ghassan O.; Capkun, Vedran; Capkun, Srdjan. "Is Bitcoin a
Decentralized Currency?" (https://www.infoq.com/articles/is-bitcoin-a-decentralized-currenc
y/). InfoQ. InfoQ & IEEE computer society. Archived (https://web.archive.org/web/201610100
42659/https://www.infoq.com/articles/is-bitcoin-a-decentralized-currency/) from the original
on 10 October 2016. Retrieved 11 October 2016.
42. Voorhees, Erik (30 October 2015). "It's All About the Blockchain" (https://web.archive.org/we
b/20151101235750/http://moneyandstate.com/its-all-about-the-blockchain/). Money and
State. Archived from the original (http://moneyandstate.com/its-all-about-the-blockchain/) on
1 November 2015. Retrieved 2 November 2015.
43. Reutzel, Bailey (13 July 2015). "A Very Public Conflict Over Private Blockchains" (http://ww
w.paymentssource.com/news/technology/a-very-public-confluct-over-private-blockchains-30
21831-1.html). PaymentsSource. New York, NY: SourceMedia, Inc. Archived (https://web.arc
hive.org/web/20160421112045/http://www.paymentssource.com/news/technology/a-very-pu
blic-confluct-over-private-blockchains-3021831-1.html) from the original on 21 April 2016.
Retrieved 18 June 2016.
44. Casey, Michael J. (15 April 2015). "Moneybeat/BitBeat: Blockchains Without Coins Stir
Tensions in Bitcoin Community" (https://blogs.wsj.com/moneybeat/2015/04/14/bitbeat-blockc
hains-without-coins-stir-tensions-in-bitcoin-community/). The Wall Street Journal. Archived
(https://web.archive.org/web/20160610224428/http://blogs.wsj.com/moneybeat/2015/04/14/b
itbeat-blockchains-without-coins-stir-tensions-in-bitcoin-community/) from the original on 10
June 2016. Retrieved 18 June 2016.
45. "The 'Blockchain Technology' Bandwagon Has A Lesson Left To Learn" (http://news.dinbits.
com/2015/11/the-blockchain-technology-bandwagon-has.html). dinbits.com. 3 November
2015. Archived (https://web.archive.org/web/20160629234654/http://news.dinbits.com/2015/
11/the-blockchain-technology-bandwagon-has.html) from the original on 29 June 2016.
Retrieved 18 June 2016.
46. DeRose, Chris (26 June 2015). "Why the Bitcoin Blockchain Beats Out Competitors" (http://
www.americanbanker.com/bankthink/why-the-bitcoin-blockchain-beats-out-competitors-107
5100-1.html). American Banker. Archived (https://web.archive.org/web/20160330060709/htt
p://www.americanbanker.com/bankthink/why-the-bitcoin-blockchain-beats-out-competitors-1
075100-1.html) from the original on 30 March 2016. Retrieved 18 June 2016.
47. Greenspan, Gideon (19 July 2015). "Ending the bitcoin vs blockchain debate" (http://www.m
ultichain.com/blog/2015/07/bitcoin-vs-blockchain-debate/). multichain.com. Archived (https://
web.archive.org/web/20160608070620/http://www.multichain.com/blog/2015/07/bitcoin-vs-b
lockchain-debate/) from the original on 8 June 2016. Retrieved 18 June 2016.
48. Tapscott, Don; Tapscott, Alex (May 2016). The Blockchain Revolution: How the Technology
Behind Bitcoin is Changing Money, Business, and the World. ISBN 978-0-670-06997-2.
49. Barry, Levine (11 June 2018). "A new report bursts the blockchain bubble" (https://martechto
day.com/a-new-report-bursts-the-blockchain-bubble-216959). MarTech. Archived (https://we
b.archive.org/web/20180713232406/https://martechtoday.com/a-new-report-bursts-the-block
chain-bubble-216959) from the original on 13 July 2018. Retrieved 13 July 2018.
50. Ovenden, James. "Blockchain Top Trends In 2017" (https://channels.theinnovationenterpris
e.com/articles/blockchain-top-trends-in-2017). The Innovation Enterprise. Archived (https://w
eb.archive.org/web/20161130143727/https://channels.theinnovationenterprise.com/articles/
blockchain-top-trends-in-2017) from the original on 30 November 2016. Retrieved
4 December 2016.
51. Bob Marvin (30 August 2017). "Blockchain: The Invisible Technology That's Changing the
World" (http://au.pcmag.com/amazon-web-services/46389/feature/blockchain-the-invisible-te
chnology-thats-changing-the-world). PC MAG Australia. ZiffDavis, LLC. Archived (https://we
b.archive.org/web/20170925180800/http://au.pcmag.com/amazon-web-services/46389/featu
re/blockchain-the-invisible-technology-thats-changing-the-world) from the original on 25
September 2017. Retrieved 25 September 2017.
52. Prisco, Giulio. "Sandia National Laboratories Joins the War on Bitcoin Anonymity" (https://bit
coinmagazine.com/culture/sandia-national-laboratories-joins-the-war-on-bitcoin-anonymity-
1472151009). Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides. Retrieved
20 May 2022.
53. "Blockchains & Distributed Ledger Technologies" (https://blockchainhub.net/blockchains-an
d-distributed-ledger-technologies-in-general/). BlockchainHub. Retrieved 20 May 2022.
54. O'Keeffe, M.; Terzi, A. (7 July 2015). "The political economy of financial crisis policy" (http://b
ruegel.org/2015/07/the-political-economy-of-financial-crisis-policy/). Bruegel. Archived (http
s://web.archive.org/web/20180519025919/http://bruegel.org/2015/07/the-political-economy-
of-financial-crisis-policy/) from the original on 19 May 2018. Retrieved 8 May 2018.
55. Dr Garrick Hileman & Michel Rauchs (2017). "GLOBAL CRYPTOCURRENCY
BENCHMARKING STUDY" (https://cdn.crowdfundinsider.com/wp-content/uploads/2017/04/
Global-Cryptocurrency-Benchmarking-Study.pdf) (PDF). Cambridge Centre for Alternative
Finance. University of Cambridge Judge Business School. Archived (https://web.archive.or
g/web/20190515100308/https://cdn.crowdfundinsider.com/wp-content/uploads/2017/04/Glob
al-Cryptocurrency-Benchmarking-Study.pdf) (PDF) from the original on 15 May 2019.
Retrieved 15 May 2019 – via crowdfundinsider.
56. Raymaekers, Wim (March 2015). "Cryptocurrency Bitcoin: Disruption, challenges and
opportunities" (https://www.ingentaconnect.com/content/hsp/jpss/2015/00000009/00000001/
art00005). Journal of Payments Strategy & Systems. 9 (1): 30–46. Archived (https://web.arch
ive.org/web/20190515100259/https://www.ingentaconnect.com/content/hsp/jpss/2015/0000
0009/00000001/art00005) from the original on 15 May 2019. Retrieved 15 May 2019.
57. "Why Crypto Companies Still Can't Open Checking Accounts" (https://www.bloomberg.com/
news/articles/2019-03-03/why-crypto-companies-still-can-t-open-checking-accounts). 3
March 2019. Archived (https://web.archive.org/web/20190604091359/https://www.bloomber
g.com/news/articles/2019-03-03/why-crypto-companies-still-can-t-open-checking-accounts)
from the original on 4 June 2019. Retrieved 4 June 2019.
58. Christian Brenig, Rafael Accorsi & Günter Müller (Spring 2015). "Economic Analysis of
Cryptocurrency Backed Money Laundering" (https://aisel.aisnet.org/cgi/viewcontent.cgi?artic
le=1019&context=ecis2015_cr). Association for Information Systems AIS Electronic Library
(AISeL). Archived (https://web.archive.org/web/20190828223207/https://aisel.aisnet.org/cgi/
viewcontent.cgi?article=1019&context=ecis2015_cr) from the original on 28 August 2019.
Retrieved 15 May 2019.
59. Greenberg, Andy (25 January 2017). "Monero, the Drug Dealer's Cryptocurrency of Choice,
Is on Fire" (https://www.wired.com/2017/01/monero-drug-dealers-cryptocurrency-choice-
fire/). Wired. ISSN 1059-1028 (https://www.worldcat.org/issn/1059-1028). Archived (https://w
eb.archive.org/web/20181210020727/https://www.wired.com/2017/01/monero-drug-dealers-
cryptocurrency-choice-fire/) from the original on 10 December 2018. Retrieved 15 May 2019.
60. Orcutt, Mike. "It's getting harder to hide money in Bitcoin" (https://www.technologyreview.co
m/s/608763/criminals-thought-bitcoin-was-the-perfect-hiding-place-they-thought-wrong/).
MIT Technology Review. Retrieved 15 May 2019.
61. "Explainer: 'Privacy coin' Monero offers near total anonymity" (https://uk.reuters.com/article/u
s-crypto-currencies-altcoins-explainer-idUKKCN1SL0F0). Reuters. 15 May 2019. Archived
(https://web.archive.org/web/20190515075334/https://uk.reuters.com/article/us-crypto-curren
cies-altcoins-explainer-idUKKCN1SL0F0) from the original on 15 May 2019. Retrieved
15 May 2019.
62. "An Untraceable Currency? Bitcoin Privacy Concerns - FinTech Weekly" (https://magazine.fi
ntechweekly.com/articles/an-untraceable-currency-bitcoin-privacy-concerns). FinTech
Magazine Article. 7 April 2018. Archived (https://web.archive.org/web/20190515100301/http
s://magazine.fintechweekly.com/articles/an-untraceable-currency-bitcoin-privacy-concerns)
from the original on 15 May 2019. Retrieved 15 May 2019.
63. "Blockchain" (https://www.standards.org.au/engagement-events/flagship-projects/blockchai
n). standards.org.au. Standards Australia. Retrieved 21 June 2021.
64. "ISO/TC 307 Blockchain and distributed ledger technologies" (https://www.iso.org/committe
e/6266604.html). iso.org. ISO. Retrieved 21 June 2021.
65. Deshmukh, Sumedha; Boulais, Océane; Koens, Tommy. "Global Standards Mapping
Initiative: An overview of blockchain technical standards" (http://www3.weforum.org/docs/W
EF_GSMI_Technical_Standards_2020.pdf) (PDF). weforum.org. World Economic Forum.
Retrieved 23 June 2021.
66. "Blockchain Overview" (https://www.nist.gov/blockchain). NIST. 25 September 2019.
Retrieved 21 June 2021.
67. "CEN and CENELEC publish a White Paper on standards in Blockchain & Distributed
Ledger Technologies" (https://www.cencenelec.eu/news/brief_news/Pages/TN-2018-085.as
px). cencenelec.eu. CENELEC. Retrieved 21 June 2021.
68. "Standards" (https://blockchain.ieee.org/standards). ieee.org. IEEE Blockchain. Retrieved
21 June 2021.
69. Hardjono, Thomas. "An Interoperability Architecture for Blockchain/DLT Gateways" (https://w
ww.ietf.org/id/draft-hardjono-blockchain-interop-arch-02.txt). ietf.org. IETF. Retrieved
21 June 2021.
70. "Details: Oracle Blockchain Table" (https://docs.oracle.com/en/database/oracle/oracle-datab
ase/21/nfcon/details-oracle-blockchain-table-282449857.html). Archived (https://web.archiv
e.org/web/20210120232657/https://docs.oracle.com/en/database/oracle/oracle-database/21/
nfcon/details-oracle-blockchain-table-282449857.html) from the original on 20 January
2021. Retrieved 1 January 2022.
71. "Oracle Blockchain Table" (https://docs.oracle.com/en/database/oracle/oracle-database/21/n
fcon/oracle-blockchain-table-268779556.html). Archived (https://web.archive.org/web/20210
516130824/https://docs.oracle.com/en/database/oracle/oracle-database/21/nfcon/oracle-blo
ckchain-table-268779556.html) from the original on 16 May 2021. Retrieved 1 January 2022.
72. "How Companies Can Leverage Private Blockchains to Improve Efficiency and Streamline
Business Processes" (https://perfectial.com/blog/leveraging-private-blockchains-improve-effi
ciency-streamline-business-processes/). Perfectial.
73. [Distributed Ledger Technology: Hybrid Approach, Front-to-Back Designing and Changing
Trade Processing Infrastructure, By Martin Walker, First published:, 24 OCT 2018 ISBN 978-
1-78272-389-9]
74. Siraj Raval (18 July 2016). Decentralized Applications: Harnessing Bitcoin's Blockchain
Technology (https://books.google.com/books?id=fvywDAAAQBAJ&pg=PA22). "O'Reilly
Media, Inc.". pp. 22–. ISBN 978-1-4919-2452-5.
75. Niaz Chowdhury (16 August 2019). Inside Blockchain, Bitcoin, and Cryptocurrencies (https://
books.google.com/books?id=_HatDwAAQBAJ&pg=PA22). CRC Press. pp. 22–. ISBN 978-
1-00-050770-6.
76. U.S. Patent 10,438,290 (https://patents.google.com/patent/US10438290)
77. Katie Martin (27 September 2016). "CLS dips into blockchain to net new currencies" (https://
www.ft.com/content/c905b6fc-4dd2-3170-9d2a-c79cdbb24f16). Financial Times. Archived (h
ttps://web.archive.org/web/20161109152317/https://www.ft.com/content/c905b6fc-4dd2-317
0-9d2a-c79cdbb24f16) from the original on 9 November 2016. Retrieved 7 November 2016.
78. Castillo, Michael (16 April 2019). "blockchain 50: Billion Dollar Babies" (https://www.forbes.c
om/sites/michaeldelcastillo/2019/04/16/blockchain-50-billion-dollar-babies/?sh=5e8e20685
7cc). Financial Website. SourceMedia. Retrieved 1 February 2021.
79. Davies, Steve (2018). "PwC's Global Blockchain Survey" (https://www.pwc.com/gx/en/indust
ries/technology/blockchain/blockchain-in-business.html). Financial Website. SourceMedia.
Retrieved 1 February 2021.
80. Liu, Shanhong (13 March 2020). "Blockchain - Statistics & Facts" (https://www.statista.com/t
opics/5122/blockchain/#dossierSummary__chapter6). Statistics Website. SourceMedia.
Retrieved 17 February 2021.
81. Wagner, Kurt (8 May 2018). "Facebook is making its biggest executive shuffle in company
history" (https://www.recode.net/2018/5/8/17330226/facebook-reorg-mark-zuckerberg-whats
app-messenger-ceo-blockchain). Recode. Archived (https://web.archive.org/web/201807220
53519/https://www.recode.net/2018/5/8/17330226/facebook-reorg-mark-zuckerberg-whatsap
p-messenger-ceo-blockchain) from the original on 22 July 2018. Retrieved 25 September
2018.
82. Isaac, Mike; Popper, Nathaniel (18 June 2019). "Facebook Plans Global Financial System
Based on Cryptocurrency" (https://www.nytimes.com/2019/06/18/technology/facebook-crypt
ocurrency-libra.html?action=click&module=Top_Stories&pgtype=Homepage). The New
York Times. Archived (https://web.archive.org/web/20200519040623/https://www.nytimes.co
m/2019/06/18/technology/facebook-cryptocurrency-libra.html?action=click&module=Top_St
ories&pgtype=Homepage) from the original on 19 May 2020. Retrieved 18 June 2019.
83. Constine, Josh (18 June 2019). "Facebook announces Libra cryptocurrency: All you need to
know" (https://techcrunch.com/2019/06/18/facebook-libra/). TechCrunch. Archived (https://we
b.archive.org/web/20190619003937/https://techcrunch.com/2019/06/18/facebook-libra/) from
the original on 19 June 2019. Retrieved 19 June 2019.
84. KPIX-TV. (5 November 2020). "Silk Road: Feds Seize $1 Billion In Bitcoins Linked To
Infamous Silk Road Dark Web Case; 'Where Did The Money Go'". KPIX website (https://sanf
rancisco.cbslocal.com/2020/11/05/silk-road-feds-seize-1-billion-in-bitcoins-linked-to-infamo
us-silk-road-dark-web-case-where-did-the-money-go/) Retrieved 28 March 2021.
85. Aditi Kumar and Eric Rosenbach. (20 May 2020). "Could China's Digital Currency Unseat
the Dollar?: American Economic and Geopolitical Power Is at Stake". Foreign Affairs
website (https://www.foreignaffairs.com/articles/china/2020-05-20/could-chinas-digital-curre
ncy-unseat-dollar) Retrieved 31 March 2021.
86. Staff. (16 February 2021). "The Economist Explains: What is the fuss over central-bank
digital currencies?" The Economist website (https://www.economist.com/the-economist-expl
ains/2021/02/16/what-is-the-fuss-over-central-bank-digital-currencies) Retrieved 1 April
2021.
87. Franco, Pedro (2014). Understanding Bitcoin: Cryptography, Engineering and Economics (ht
tps://books.google.com/books?id=YHfCBwAAQBAJ). John Wiley & Sons. p. 9. ISBN 978-1-
119-01916-9. Archived (https://web.archive.org/web/20170214204859/https://books.google.
com/books?id=YHfCBwAAQBAJ) from the original on 14 February 2017. Retrieved
4 January 2017 – via Google Books.
88. Casey, Michael, 1967- (16 July 2018). The impact of blockchain technology on finance : a
catalyst for change (https://www.worldcat.org/oclc/1059331326). London, UK. ISBN 978-1-
912179-15-2. OCLC 1059331326 (https://www.worldcat.org/oclc/1059331326).
89. Governatori, Guido; Idelberger, Florian; Milosevic, Zoran; Riveret, Regis; Sartor, Giovanni;
Xu, Xiwei (2018). "On legal contracts, imperative and declarative smart contracts, and
blockchain systems". Artificial Intelligence and Law. 26 (4): 33. doi:10.1007/s10506-018-
9223-3 (https://doi.org/10.1007%2Fs10506-018-9223-3). S2CID 3663005 (https://api.semant
icscholar.org/CorpusID:3663005).
90. Virtual Currencies and Beyond: Initial Considerations (https://www.imf.org/external/pubs/ft/sd
n/2016/sdn1603.pdf) (PDF). IMF Discussion Note. International Monetary Fund. 2016. p. 23.
ISBN 978-1-5135-5297-2. Archived (https://web.archive.org/web/20180414210721/https://w
ww.imf.org/external/pubs/ft/sdn/2016/sdn1603.pdf) (PDF) from the original on 14 April 2018.
Retrieved 19 April 2018.
91. Epstein, Jim (6 May 2016). "Is Blockchain Technology a Trojan Horse Behind Wall Street's
Walled Garden?" (http://reason.com/reasontv/2016/05/06/bitcoin-consensus-blockchain-wall
-street). Reason. Archived (https://web.archive.org/web/20160708170429/http://reason.com/r
easontv/2016/05/06/bitcoin-consensus-blockchain-wall-street) from the original on 8 July
2016. Retrieved 29 June 2016. "mainstream misgivings about working with a system that's
open for anyone to use. Many banks are partnering with companies building so-called
private blockchains that mimic some aspects of Bitcoin's architecture except they're
designed to be closed off and accessible only to chosen parties. ... [but some believe] that
open and permission-less blockchains will ultimately prevail even in the banking sector
simply because they're more efficient."
92. Redrup, Yolanda (29 June 2016). "ANZ backs private blockchain, but won't go public" (http://
www.afr.com/technology/anz-backs-private-blockchain-but-wont-go-public-20160629-gpuf9
z). Australia Financial Review. Archived (https://web.archive.org/web/20160703103852/htt
p://www.afr.com/technology/anz-backs-private-blockchain-but-wont-go-public-20160629-gpu
f9z) from the original on 3 July 2016. Retrieved 7 July 2016. "Blockchain networks can be
either public or private. Public blockchains have many users and there are no controls over
who can read, upload or delete the data and there are an unknown number of
pseudonymous participants. In comparison, private blockchains also have multiple data
sets, but there are controls in place over who can edit data and there are a known number of
participants."
93. Shah, Rakesh (1 March 2018). "How Can The Banking Sector Leverage Blockchain
Technology?" (http://www.postboxcommunications.com/blog/can-banking-sector-leverage-bl
ockchain-technology/). PostBox Communications. PostBox Communications Blog. Archived
(https://web.archive.org/web/20180317232141/http://www.postboxcommunications.com/blo
g/can-banking-sector-leverage-blockchain-technology/) from the original on 17 March 2018.
"Banks preferably have a notable interest in utilizing Blockchain Technology because it is a
great source to avoid fraudulent transactions. Blockchain is considered hassle free, because
of the extra level of security it offers."
94. Kelly, Jemima (28 September 2016). "Banks adopting blockchain 'dramatically faster' than
expected: IBM" (https://www.reuters.com/article/us-tech-blockchain-ibm-idUSKCN11Y28D).
Reuters. Archived (https://web.archive.org/web/20160928163048/http://www.reuters.com/arti
cle/us-tech-blockchain-ibm-idUSKCN11Y28D) from the original on 28 September 2016.
Retrieved 28 September 2016.
95. Arnold, Martin (23 September 2013). "IBM in blockchain project with China UnionPay" (http
s://www.ft.com/content/719f4e7e-80e1-11e6-bc52-0c7211ef3198). Financial Times.
Archived (https://web.archive.org/web/20161109152822/https://www.ft.com/content/719f4e7
e-80e1-11e6-bc52-0c7211ef3198) from the original on 9 November 2016. Retrieved
7 November 2016.
 96. Ravichandran, Arvind; Fargo, Christopher; Kappos, David; Portilla, David; Buretta, John;
Ngo, Minh Van; Rosenthal-Larrea, Sasha (28 January 2022). "Blockchain in the Banking
Sector: A Review of the Landscape and Opportunities" (https://corpgov.law.harvard.edu/202
2/01/28/blockchain-in-the-banking-sector-a-review-of-the-landscape-and-opportunities/).
97. "UBS leads team of banks working on blockchain settlement system" (https://www.reuters.co
m/article/us-banks-blockchain-ubs-idUSKCN10Z147). Reuters. 24 August 2016. Archived (h
ttps://web.archive.org/web/20170519073429/http://www.reuters.com/article/us-banks-blockc
hain-ubs-idUSKCN10Z147) from the original on 19 May 2017. Retrieved 13 May 2017.
98. "Cryptocurrency Blockchain" (https://www.capgemini.com/beyond-the-buzz/cryptocurrency-b
lockchain). capgemini.com. Archived (https://web.archive.org/web/20161205202317/https://
www.capgemini.com/beyond-the-buzz/cryptocurrency-blockchain) from the original on 5
December 2016. Retrieved 13 May 2017.
99. Kelly, Jemima (31 October 2017). "Top banks and R3 build blockchain-based payments
system" (https://www.reuters.com/article/us-banks-blockchain-r3/top-banks-and-r3-build-bloc
kchain-based-payments-system-idUSKBN1D00ZB). Reuters. Archived (https://web.archive.
org/web/20180710011735/https://www.reuters.com/article/us-banks-blockchain-r3/top-banks
-and-r3-build-blockchain-based-payments-system-idUSKBN1D00ZB) from the original on
10 July 2018. Retrieved 9 July 2018.
100. "Archived copy" (https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/technology/l
u-token-assets-securities-tomorrow.pdf) (PDF). Archived (https://web.archive.org/web/20190
623225917/https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/technology/lu-tok
en-assets-securities-tomorrow.pdf) (PDF) from the original on 23 June 2019. Retrieved
26 September 2019.
101. Hammerberg, Jeff (7 November 2021). "Potential impact of blockchain on real estate" (http
s://www.washingtonblade.com/2021/11/07/potential-impact-of-blockchain-on-real-estate/).
Washington Blade.
102. Clark, Mitchell (15 October 2021). "Valve bans blockchain games and NFTs on Steam, Epic
will try to make it work" (https://www.theverge.com/2021/10/15/22728425/valve-steam-block
chain-nft-crypto-ban-games-age-of-rust). The Verge. Retrieved 8 November 2021.
103. Mozuch, Mo (29 April 2021). "Blockchain Games Twist The Fundamentals Of Online
Gaming" (https://www.inverse.com/gaming/blockchain-games-online-gaming). Inverse.
Retrieved 4 November 2021.
104. "Internet firms try their luck at blockchain games" (https://asiatimes.com/article/internet-firms-t
ry-luck-blockchain-games/). Asia Times. 22 February 2018. Retrieved 28 February 2018.
105. Evelyn Cheng (6 December 2017). "Meet CryptoKitties, the $100,000 digital beanie babies
epitomizing the cryptocurrency mania" (https://www.cnbc.com/2017/12/06/meet-cryptokitties-
the-new-digital-beanie-babies-selling-for-100k.html). CNBC. Archived (https://web.archive.or
g/web/20181120115903/https://www.cnbc.com/2017/12/06/meet-cryptokitties-the-new-digita
l-beanie-babies-selling-for-100k.html) from the original on 20 November 2018. Retrieved
28 February 2018.
106. Laignee Barron (13 February 2018). "CryptoKitties is Going Mobile. Can Ethereum Handle
the Traffic?" (http://fortune.com/2018/02/13/cryptokitties-ethereum-ios-launch-china-ether/).
Fortune. Archived (https://web.archive.org/web/20181028041832/http://fortune.com/2018/02/
13/cryptokitties-ethereum-ios-launch-china-ether/) from the original on 28 October 2018.
Retrieved 30 September 2018.
107. "CryptoKitties craze slows down transactions on Ethereum" (https://www.bbc.com/news/tech
nology-42237162). 12 May 2017. Archived (https://web.archive.org/web/20180112143517/ht
tp://www.bbc.com/news/technology-42237162) from the original on 12 January 2018.
108. Wells, Charlie; Egkolfopoulou, Misrylena (30 October 2021). "Into the Metaverse: Where
Crypto, Gaming and Capitalism Collide" (https://www.bloomberg.com/news/features/2021-1
0-30/what-is-the-metaverse-where-crypto-nft-capitalism-collide-in-games-like-axie).
Bloomberg News. Retrieved 11 November 2021.
109. Orland, Kyle (4 November 2021). "Big-name publishers see NFTs as a big part of gaming's
future" (https://arstechnica.com/gaming/2021/11/big-name-publishers-see-nfts-as-a-big-part-
of-gamings-future/). Ars Technica. Retrieved 4 November 2021.
110. Knoop, Joseph (15 October 2021). "Steam bans all games with NFTs or cryptocurrency" (htt
ps://www.pcgamer.com/steam-bans-nfts-cryptocurrencies-blockchain/). PC Gamer.
Retrieved 8 November 2021.
111. Clark, Mitchell (15 October 2021). "Epic says it's 'open' to blockchain games after Steam
bans them" (https://www.theverge.com/2021/10/15/22729050/epic-game-store-open-to-block
chain-cryptocurrency-nft-games). The Verge. Retrieved 11 November 2021.
112. Nash, Kim S. (14 July 2016). "IBM Pushes Blockchain into the Supply Chain" (https://www.w
sj.com/articles/ibm-pushes-blockchain-into-the-supply-chain-1468528824). The Wall Street
Journal. Archived (https://web.archive.org/web/20160718032702/http://www.wsj.com/article
s/ibm-pushes-blockchain-into-the-supply-chain-1468528824) from the original on 18 July
2016. Retrieved 24 July 2016.
113. Gstettner, Stefan (30 July 2019). "How Blockchain Will Redefine Supply Chain
Management" (https://knowledge.wharton.upenn.edu/article/blockchain-supply-chain-manag
ement). Knowledge@Wharton. The Wharton School of the University of Pennsylvania.
Retrieved 28 August 2020.
114. Corkery, Michael; Popper, Nathaniel (24 September 2018). "From Farm to Blockchain:
Walmart Tracks Its Lettuce" (https://www.nytimes.com/2018/09/24/business/walmart-blockch
ain-lettuce.html). The New York Times. Archived (https://web.archive.org/web/20181205103
719/https://www.nytimes.com/2018/09/24/business/walmart-blockchain-lettuce.html) from the
original on 5 December 2018. Retrieved 5 December 2018.
115. "Blockchain basics: Utilizing blockchain to improve sustainable supply chains in fashion" (ht
tps://www.emerald.com/insight/content/doi/10.1108/SD-03-2021-0028/full/html). Strategic
Direction. 37 (5): 25–27. 8 June 2021. doi:10.1108/SD-03-2021-0028 (https://doi.org/10.110
8%2FSD-03-2021-0028). ISSN 0258-0543 (https://www.worldcat.org/issn/0258-0543).
116. Sanders, James; August 28 (28 August 2019). "Blockchain-based Unstoppable Domains is
a rehash of a failed idea" (https://www.techrepublic.com/article/blockchain-based-unstoppab
le-domains-is-a-rehash-of-a-failed-idea/). TechRepublic. Archived (https://web.archive.org/w
eb/20191119015118/https://www.techrepublic.com/article/blockchain-based-unstoppable-do
mains-is-a-rehash-of-a-failed-idea/) from the original on 19 November 2019. Retrieved
16 April 2020.
117. Orcutt, Mike (4 June 2019). "The ambitious plan to reinvent how websites get their names"
(https://www.technologyreview.com/2019/06/04/239039/the-ambitious-plan-to-make-the-inter
nets-phone-book-more-trustworthy/). MIT Technology Review. Retrieved 17 May 2021.
118. Cimpanu, Catalin (17 July 2019). "OpenNIC drops support for .bit domain names after
rampant malware abuse" (https://www.zdnet.com/article/opennic-drops-support-for-bit-domai
n-names-after-rampant-malware-abuse/). ZDNet. Retrieved 17 May 2021.
119. ".Kred launches as dual DNS and ENS domain" (https://domainnamewire.com/2020/03/06/k
red-blockchain-domain/). Domain Name Wire | Domain Name News. 6 March 2020.
Archived (https://web.archive.org/web/20200308175635/https://domainnamewire.com/2020/
03/06/kred-blockchain-domain/) from the original on 8 March 2020. Retrieved 16 April 2020.
120. K. Kotobi, and S. G. Bilen, "Secure Blockchains for Dynamic Spectrum Access : A
Decentralized Database in Moving Cognitive Radio Networks Enhances Security and User
Access" (http://ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arnumber=8269834), IEEE
Vehicular Technology Magazine, 2018.
121. "Blockchain Could Be Music's Next Disruptor" (http://fortune.com/2016/09/22/blockchain-mu
sic-disruption/). 22 September 2016. Archived (https://web.archive.org/web/2016092318080
0/http://fortune.com/2016/09/22/blockchain-music-disruption/) from the original on 23
September 2016.
122. Susan Moore. (16 October 2019). "Digital Business: 4 Ways Blockchain Will Transform
Higher Education". Gartner website (https://www.gartner.com/smarterwithgartner/4-ways-blo
ckchain-will-transform-higher-education/) Retrieved 27 March 2021.
123. "ASCAP, PRS and SACEM Join Forces for Blockchain Copyright System" (http://www.music
businessworldwide.com/ascap-prs-sacem-join-forces-blockchain-copyright-system/). Music
Business Worldwide. 9 April 2017. Archived (https://web.archive.org/web/20170410050815/
http://www.musicbusinessworldwide.com/ascap-prs-sacem-join-forces-blockchain-copyright
-system/) from the original on 10 April 2017.
124. Burchardi, K.; Harle, N. (20 January 2018). "The blockchain will disrupt the music business
and beyond" (https://www.wired.co.uk/article/blockchain-disrupting-music-mycelia). Wired
UK. Archived (https://web.archive.org/web/20180508040911/https://www.wired.co.uk/article/
blockchain-disrupting-music-mycelia) from the original on 8 May 2018. Retrieved 8 May
2018.
125. Bartlett, Jamie (6 September 2015). "Imogen Heap: saviour of the music industry?" (https://w
ww.theguardian.com/music/2015/sep/06/imogen-heap-saviour-of-music-industry). The
Guardian. Archived (https://web.archive.org/web/20160422213153/http://www.theguardian.c
om/music/2015/sep/06/imogen-heap-saviour-of-music-industry) from the original on 22 April
2016. Retrieved 18 June 2016.
126. Wang, Kevin; Safavi, Ali (29 October 2016). "Blockchain is empowering the future of
insurance" (https://techcrunch.com/2016/10/29/blockchain-is-empowering-the-future-of-insur
ance/). Tech Crunch. AOL Inc. Archived (https://web.archive.org/web/20161107160418/http
s://techcrunch.com/2016/10/29/blockchain-is-empowering-the-future-of-insurance/) from the
original on 7 November 2016. Retrieved 7 November 2016.
127. Gatteschi, Valentina; Lamberti, Fabrizio; Demartini, Claudio; Pranteda, Chiara; Santamaría,
Víctor (20 February 2018). "Blockchain and Smart Contracts for Insurance: Is the Technology
Mature Enough?" (https://doi.org/10.3390%2Ffi10020020). Future Internet. 10 (2): 20.
doi:10.3390/fi10020020 (https://doi.org/10.3390%2Ffi10020020).
128. "Blockchain reaction: Tech companies plan for critical mass" (http://www.ey.com/Publication/
vwLUAssets/ey-blockchain-reaction-tech-companies-plan-for-critical-mass/$FILE/ey-blockc
hain-reaction.pdf) (PDF). Ernst & Young. p. 5. Archived (https://web.archive.org/web/201611
14001423/http://www.ey.com/Publication/vwLUAssets/ey-blockchain-reaction-tech-compani
es-plan-for-critical-mass/$FILE/ey-blockchain-reaction.pdf) (PDF) from the original on 14
November 2016. Retrieved 13 November 2016.
129. Carrie Smith. Blockchain Reaction: How library professionals are approaching blockchain
technology and its potential impact. (https://americanlibrariesmagazine.org/2019/03/01/librar
y-blockchain-reaction/) Archived (https://web.archive.org/web/20190912044927/https://ameri
canlibrariesmagazine.org/2019/03/01/library-blockchain-reaction/) 12 September 2019 at
the Wayback Machine American Libraries March 2019.
130. "IBM Blockchain based on Hyperledger Fabric from the Linux Foundation" (https://www.ibm.
com/blockchain/hyperledger.html). IBM.com. 9 January 2018. Archived (https://web.archive.o
rg/web/20171207035925/https://www.ibm.com/blockchain/hyperledger.html) from the
original on 7 December 2017. Retrieved 18 January 2018.
131. Hyperledger (22 January 2019). "Announcing Hyperledger Grid, a new project to help build
and deliver supply chain solutions!" (https://www.hyperledger.org/blog/2019/01/22/announci
ng-hyperledger-grid-a-new-project-to-help-build-and-deliver-supply-chain-solutions).
Archived (https://web.archive.org/web/20190204125611/https://www.hyperledger.org/blog/2
019/01/22/announcing-hyperledger-grid-a-new-project-to-help-build-and-deliver-supply-chai
n-solutions) from the original on 4 February 2019. Retrieved 8 March 2019.
132. Mearian, Lucas (23 January 2019). "Grid, a new project from the Linux Foundation, will offer
developers tools to create supply chain-specific applications running atop distributed ledger
technology" (https://www.computerworld.com/article/3336036/blockchain/linuxs-hyperledger
-to-give-developers-supply-chain-building-blocks.html). Computerworld. Archived (https://we
b.archive.org/web/20190203225703/https://www.computerworld.com/article/3336036/blockc
hain/linuxs-hyperledger-to-give-developers-supply-chain-building-blocks.html) from the
original on 3 February 2019. Retrieved 8 March 2019.
133. "Why J.P. Morgan Chase Is Building a Blockchain on Ethereum" (http://fortune.com/2016/10/
04/jp-morgan-chase-blockchain-ethereum-quorum/). Fortune. Archived (https://web.archive.
org/web/20170202033844/http://fortune.com/2016/10/04/jp-morgan-chase-blockchain-ether
eum-quorum/) from the original on 2 February 2017. Retrieved 24 January 2017.
134. Andoni, Merlinda; Robu, Valentin; Flynn, David; Abram, Simone; Geach, Dale; Jenkins,
David; McCallum, Peter; Peacock, Andrew (2019). "Blockchain technology in the energy
sector: A systematic review of challenges and opportunities" (https://www.sciencedirect.com/
science/article/pii/S1364032118307184). Renewable and Sustainable Energy Reviews.
100: 143–174. doi:10.1016/j.rser.2018.10.014 (https://doi.org/10.1016%2Fj.rser.2018.10.01
4). S2CID 116422191 (https://api.semanticscholar.org/CorpusID:116422191). Archived (http
s://web.archive.org/web/20200622122351/https://www.sciencedirect.com/science/article/pii/
S1364032118307184) from the original on 22 June 2020. Retrieved 7 June 2020.
135. "This Blockchain-Based Energy Platform Is Building A Peer-To-Peer Grid" (https://www.fastc
ompany.com/40479952/this-blockchain-based-energy-platform-is-building-a-peer-to-peer-gri
d). 16 October 2017. Archived (https://web.archive.org/web/20200607085107/https://www.fa
stcompany.com/40479952/this-blockchain-based-energy-platform-is-building-a-peer-to-peer
-grid) from the original on 7 June 2020. Retrieved 7 June 2020.
136. "Blockchain-based microgrid gives power to consumers in New York" (https://www.newscien
tist.com/article/2079334-blockchain-based-microgrid-gives-power-to-consumers-in-new-yor
k/). Archived (https://web.archive.org/web/20160322204730/https://www.newscientist.com/ar
ticle/2079334-blockchain-based-microgrid-gives-power-to-consumers-in-new-york/) from the
original on 22 March 2016. Retrieved 7 June 2020.
137. Ma, Jinhua; Lin, Shih-Ya; Chen, Xin; Sun, Hung-Min; Chen, Yeh-Cheng; Wang, Huaxiong
(2020). "A Blockchain-Based Application System for Product Anti-Counterfeiting" (https://doi.
org/10.1109%2FACCESS.2020.2972026). IEEE Access. 8: 77642–77652.
doi:10.1109/ACCESS.2020.2972026 (https://doi.org/10.1109%2FACCESS.2020.2972026).
ISSN 2169-3536 (https://www.worldcat.org/issn/2169-3536). S2CID 214205788 (https://api.s
emanticscholar.org/CorpusID:214205788).
138. Alzahrani, Naif; Bulusu, Nirupama (15 June 2018). "Block-Supply Chain: A New Anti-
Counterfeiting Supply Chain Using NFC and Blockchain". Proceedings of the 1st Workshop
on Cryptocurrencies and Blockchains for Distributed Systems. CryBlock'18. Munich,
Germany: Association for Computing Machinery: 30–35. doi:10.1145/3211933.3211939 (htt
ps://doi.org/10.1145%2F3211933.3211939). ISBN 978-1-4503-5838-5. S2CID 169188795
(https://api.semanticscholar.org/CorpusID:169188795).
139. Balagurusamy, V. S. K.; Cabral, C.; Coomaraswamy, S.; Delamarche, E.; Dillenberger, D. N.;
Dittmann, G.; Friedman, D.; Gökçe, O.; Hinds, N.; Jelitto, J.; Kind, A. (1 March 2019). "Crypto
anchors" (https://ieeexplore.ieee.org/document/8645638). IBM Journal of Research and
Development. 63 (2/3): 4:1–4:12. doi:10.1147/JRD.2019.2900651 (https://doi.org/10.1147%2
FJRD.2019.2900651). ISSN 0018-8646 (https://www.worldcat.org/issn/0018-8646).
S2CID 201109790 (https://api.semanticscholar.org/CorpusID:201109790).
140. Brett, Charles (18 April 2018). "EUIPO Blockathon Challenge 2018 -" (https://www.enterpris
etimes.co.uk/2018/04/18/euipo-blockathon-challenge-2018/). Enterprise Times. Retrieved
1 September 2020.
141. "EUIPO Anti-Counterfeiting Blockathon Forum" (https://euipo.europa.eu/ohimportal/en/web/
observatory/blockathon).
142. "PT Industrieel Management" (https://privacy.vakmedianet.nl/ptindustrieelmanagement/?ref=
https%3A%2F%2Ffanyv88.com%3A443%2Fhttps%2Fwww.ptindustrieelmanagement.nl%2Fhse%2Fnieuws%2F2020%2F06%
2Fnen-innoveert-certificatencheck-en-blockchain-1013171?_ga%3D2.11339894.33609457
4.1598975931-710406553.1598975931). PT Industrieel Management. Retrieved
1 September 2020.
143. Wegner, Peter (March 1996). "Interoperability" (https://dl.acm.org/doi/10.1145/234313.23442
4). ACM Computing Surveys. 28: 285–287. doi:10.1145/234313.234424 (https://doi.org/10.1
145%2F234313.234424). Retrieved 24 October 2020.
144. Belchior, Rafael; Vasconcelos, André; Guerreiro, Sérgio; Correia, Miguel (May 2020). "A
Survey on Blockchain Interoperability: Past, Present, and Future Trends". arXiv:2005.14282
(https://arxiv.org/abs/2005.14282) [cs.DC (https://arxiv.org/archive/cs.DC)].
145. Hardjono, T.; Hargreaves, M.; Smith, N. (2 October 2020). An Interoperability Architecture for
Blockchain Gateways (Technical report). IETF. draft-hardjono-blockchain-interop-arch-00.
146. Hyun Song Shin (June 2018). "Chapter V. Cryptocurrencies: looking beyond the hype" (http
s://www.bis.org/publ/arpdf/ar2018e5.pdf) (PDF). BIS 2018 Annual Economic Report. Bank
for International Settlements. Archived (https://web.archive.org/web/20180618080358/https://
www.bis.org/publ/arpdf/ar2018e5.pdf) (PDF) from the original on 18 June 2018. Retrieved
19 June 2018. "Put in the simplest terms, the quest for decentralised trust has quickly
become an environmental disaster."
147. Janda, Michael (18 June 2018). "Cryptocurrencies like bitcoin cannot replace money, says
Bank for International Settlements" (http://www.abc.net.au/news/2018-06-18/cryptocurrencie
s-cannot-replace-money-bis/9879448). ABC (Australia). Archived (https://web.archive.org/w
eb/20180618072225/http://www.abc.net.au/news/2018-06-18/cryptocurrencies-cannot-repla
ce-money-bis/9879448) from the original on 18 June 2018. Retrieved 18 June 2018.
148. Hiltzik, Michael (18 June 2018). "Is this scathing report the death knell for bitcoin?" (https://lat
imes.com/business/hiltzik/la-fi-hiltzik-bitcoin-bank-20180618-story.html). Los Angeles
Times. Archived (https://web.archive.org/web/20180618233532/http://www.latimes.com/busi
ness/hiltzik/la-fi-hiltzik-bitcoin-bank-20180618-story.html) from the original on 18 June 2018.
Retrieved 19 June 2018.
149. Criddle, Christina (February 20, 2021) "Bitcoin consumes 'more electricity than Argentina'."
(https://www.bbc.com/news/technology-56012952) BBC News. (Retrieved April 26, 2021.)
150. Ponciano, Jonathan (March 9, 2021) "Bill Gates Sounds Alarm On Bitcoin's Energy
Consumption–Here's Why Crypto Is Bad For Climate Change." (https://www.forbes.com/site
s/jonathanponciano/2021/03/09/bill-gates-bitcoin-crypto-climate-change/?sh=3315f8ef6822)
Forbes.com. (Retrieved April 26, 2021.)
151. Rowlatt, Justin (February 27, 2021) "How Bitcoin's vast energy use could burst its bubble."
(https://www.bbc.com/news/science-environment-56215787) BBC News. (Retrieved April
26, 2021.)
152. Sorkin, Andrew et al. (March 9, 2021) "Why Bill Gates Is Worried About Bitcoin." (https://ww
w.nytimes.com/2021/03/09/business/dealbook/bill-gates-bitcoin.html) New York Times.
(Retrieved April 25, 2021.)
153. Illing, Sean (11 April 2018). "Why Bitcoin is bullshit, explained by an expert" (https://www.vo
x.com/conversations/2018/4/11/17206018/bitcoin-blockchain-cryptocurrency-weaver). Vox.
Archived (https://web.archive.org/web/20180717041640/https://www.vox.com/conversations/
2018/4/11/17206018/bitcoin-blockchain-cryptocurrency-weaver) from the original on 17 July
2018. Retrieved 17 July 2018.
154. Weaver, Nicholas. "Blockchains and Cryptocurrencies: Burn It With Fire" (https://www.youtu
be.com/watch?v=xCHab0dNnj4). YouTube video. Berkeley School of Information. Archived
(https://web.archive.org/web/20190219015620/https://www.youtube.com/watch?v=xCHab0d
Nnj4) from the original on 19 February 2019. Retrieved 17 July 2018.
155. Köhler, Susanne; Pizzol, Massimo (20 November 2019). "Life Cycle Assessment of Bitcoin
Mining" (https://doi.org/10.1021%2Facs.est.9b05687). Environmental Science &
Technology. 53 (23): 13598–13606. Bibcode:2019EnST...5313598K (https://ui.adsabs.harva
rd.edu/abs/2019EnST...5313598K). doi:10.1021/acs.est.9b05687 (https://doi.org/10.1021%2
Facs.est.9b05687). PMID 31746188 (https://pubmed.ncbi.nlm.nih.gov/31746188).
156. Stoll, Christian; Klaaßen, Lena; Gallersdörfer, Ulrich (2019). "The Carbon Footprint of
Bitcoin" (https://doi.org/10.1016%2Fj.joule.2019.05.012). Joule. 3 (7): 1647–1661.
doi:10.1016/j.joule.2019.05.012 (https://doi.org/10.1016%2Fj.joule.2019.05.012).
157. "US lawmakers begin probe into Bitcoin miners' high energy use" (https://www.business-sta
ndard.com/article/international/us-lawmakers-begin-probe-into-bitcoin-miners-high-energy-u
se-122012900282_1.html#:~:text=Eight+US+lawmakers+have+come,being+felt+across+the
+globe). 29 January 2022 – via Business Standard.
158. Cuen, Leigh (March 21, 2021) "The debate about cryptocurrency and data consumption." (htt
ps://techcrunch.com/2021/03/21/the-debate-about-cryptocurrency-and-energy-consumption/)
TechCrunch. (Retrieved April 26, 2021.)
159. Joanna Ossinger (2022) "Polkadot Has Least Carbon Footprint, Crypto Researcher Says", 2
February. Bloomberg. (https://www.bloomberg.com/news/articles/2022-02-02/polkadot-has-s
mallest-carbon-footprint-crypto-researcher-says)
160. Jones, Jonathan Spencer (13 September 2021). "Blockchain proof-of-stake – not all are
equal" (https://www.smart-energy.com/industry-sectors/new-technology/proof-of-stake-blockc
hains-not-all-are-equal/). www.smart-energy.com.
161. Catalini, Christian; Tucker, Catherine E. (11 August 2016). "Seeding the S-Curve? The Role
of Early Adopters in Diffusion" (http://www.netinst.org/Catalini_16-02.pdf) (PDF). SSRN.
doi:10.2139/ssrn.2822729 (https://doi.org/10.2139%2Fssrn.2822729). S2CID 157317501 (ht
tps://api.semanticscholar.org/CorpusID:157317501). SSRN 2822729 (https://ssrn.com/abstra
ct=2822729).
162. Arnold, M. (2017) "Universities add blockchain to course list", Financial Times: Masters in
Finance, Retrieved 26 January 2022. (https://www.ft.com/content/f736b04e-3708-11e7-99bd
-13beb0903fa3)
163. Janssen, Marijn; Weerakkody, Vishanth; Ismagilova, Elvira; Sivarajah, Uthayasankar; Irani,
Zahir (2020). "A framework for analysing blockchain technology adoption: Integrating
institutional, market and technical factors" (https://doi.org/10.1016%2Fj.ijinfomgt.2019.08.01
2). International Journal of Information Management. Elsevier. 50: 302–309.
doi:10.1016/j.ijinfomgt.2019.08.012 (https://doi.org/10.1016%2Fj.ijinfomgt.2019.08.012).
164. Koens, Tommy; Poll, Erik (2019), "The Drivers Behind Blockchain Adoption: The Rationality
of Irrational Choices", Euro-Par 2018: Parallel Processing Workshops, Lecture Notes in
Computer Science, vol. 11339, pp. 535–546, doi:10.1007/978-3-030-10549-5_42 (https://do
i.org/10.1007%2F978-3-030-10549-5_42), ISBN 978-3-030-10548-8, S2CID 57662305 (http
s://api.semanticscholar.org/CorpusID:57662305)
165. Li, Jerry (7 April 2020). "Blockchain Technology Adoption: Examining the Fundamental
Drivers" (https://web.archive.org/web/20200605023137/https://dl.acm.org/doi/abs/10.1145/3
396743.3396750). Association for Computing Machinery. pp. 253–260.
doi:10.1145/3396743.3396750 (https://doi.org/10.1145%2F3396743.3396750). Archived
from the original (https://doi.org/10.1145/3396743.3396750) on 5 June 2020 – via ACM
Digital Library.
166. Hsieh, Ying-Ying; Vergne, Jean-Philippe; Anderson, Philip; Lakhani, Karim; Reitzig, Markus
(12 February 2019). "Correction to: Bitcoin and the rise of decentralized autonomous
organizations" (https://doi.org/10.1186%2Fs41469-019-0041-1). Journal of Organization
Design. 8 (1): 3. doi:10.1186/s41469-019-0041-1 (https://doi.org/10.1186%2Fs41469-019-00
41-1). ISSN 2245-408X (https://www.worldcat.org/issn/2245-408X).
167. Felin, Teppo; Lakhani, Karim (2018). "What Problems Will You Solve With Blockchain?".
MIT Sloan Management Review.
168. Beck, Roman; Mueller-Bloch, Christoph; King, John Leslie (2018). "Governance in the
Blockchain Economy: A Framework and Research Agenda" (https://aisel.aisnet.org/cgi/view
content.cgi?article=1835&context=jais). Journal of the Association for Information Systems:
1020–1034. doi:10.17705/1jais.00518 (https://doi.org/10.17705%2F1jais.00518).
169. Popper, Nathaniel (27 June 2018). "What is the Blockchain? Explaining the Tech Behind
Cryptocurrencies (Published 2018)" (https://www.nytimes.com/2018/06/27/business/dealboo
k/blockchains-guide-information.html). The New York Times.
170. Hugh Rooney, Brian Aiken, & Megan Rooney. (2017). Q&A. Is Internal Audit Ready for
Blockchain? Technology Innovation Management Review, (10), 41.
171. Richard C. Kloch, Jr Simon J. Little, Blockchain and Internal Audit Internal Audit Foundation,
2019 ISBN 978-1-63454-065-0
172. Alexander, A. (2019). The audit, transformed: New advancements in technology are
reshaping this core service. Accounting Today, 33(1)
173. Extance, Andy (30 September 2015). "The future of cryptocurrencies: Bitcoin and beyond" (h
ttps://doi.org/10.1038%2F526021a). Nature. 526 (7571): 21–23.
Bibcode:2015Natur.526...21E (https://ui.adsabs.harvard.edu/abs/2015Natur.526...21E).
doi:10.1038/526021a (https://doi.org/10.1038%2F526021a). ISSN 0028-0836 (https://www.w
orldcat.org/issn/0028-0836). OCLC 421716612 (https://www.worldcat.org/oclc/421716612).
PMID 26432223 (https://pubmed.ncbi.nlm.nih.gov/26432223).
174. Ledger (eJournal / eMagazine, 2015). OCLC. OCLC 910895894 (https://www.worldcat.org/o
clc/910895894).
175. Hertig, Alyssa (15 September 2015). "Introducing Ledger, the First Bitcoin-Only Academic
Journal" (http://motherboard.vice.com/read/introducing-ledger-the-first-bitcoin-only-academic
-journal). Motherboard. Archived (https://web.archive.org/web/20170110172807/http://mother
board.vice.com/read/introducing-ledger-the-first-bitcoin-only-academic-journal) from the
original on 10 January 2017. Retrieved 10 January 2017.
176. Rizun, Peter R.; Wilmer, Christopher E.; Burley, Richard Ford; Miller, Andrew (2015). "How
to Write and Format an Article for Ledger" (http://ledger.pitt.edu/ojs/public/journals/1/AuthorG
uide.pdf) (PDF). Ledger. 1 (1): 1–12. doi:10.5195/LEDGER.2015.1 (https://doi.org/10.5195%
2FLEDGER.2015.1) (inactive 28 February 2022). ISSN 2379-5980 (https://www.worldcat.or
g/issn/2379-5980). OCLC 910895894 (https://www.worldcat.org/oclc/910895894). Archived
(https://web.archive.org/web/20150922190603/http://ledger.pitt.edu/ojs/public/journals/1/Aut
horGuide.pdf) (PDF) from the original on 22 September 2015. Retrieved 11 January 2017.

Further reading
Crosby, Michael; Nachiappan; Pattanayak, Pradhan; Verma, Sanjeev; Kalyanaraman,
Vignesh (16 October 2015). BlockChain Technology: Beyond Bitcoin (http://scet.berkeley.ed
u/wp-content/uploads/BlockchainPaper.pdf) (PDF) (Report). Sutardja Center for
Entrepreneurship & Technology Technical Report. University of California, Berkeley.
Retrieved 19 March 2017.
Jaikaran, Chris (28 February 2018). Blockchain: Background and Policy Issues (https://crsre
ports.congress.gov/product/pdf/R/R45116/3). Washington, DC: Congressional Research
Service. Retrieved 2 December 2018.
Kakavand, Hossein; De Sevres, Nicolette Kost; Chilton, Bart (12 October 2016). The
Blockchain Revolution: An Analysis of Regulation and Technology Related to Distributed
Ledger Technologies (Report). Luther Systems & DLA Piper. SSRN 2849251 (https://ssrn.co
m/abstract=2849251).
Mazonka, Oleg (29 December 2016). "Blockchain: Simple Explanation" (http://jrxv.net/x/16/c
hain.pdf) (PDF). Journal of Reference.
Tapscott, Don; Tapscott, Alex (2016). Blockchain Revolution: How the Technology Behind
Bitcoin Is Changing Money, Business and the World. London: Portfolio Penguin. ISBN 978-
0-241-23785-4. OCLC 971395169 (https://www.worldcat.org/oclc/971395169).
Saito, Kenji; Yamada, Hiroyuki (June 2016). What's So Different about Blockchain?
Blockchain is a Probabilistic State Machine. IEEE 36th International Conference on
Distributed Computing Systems Workshops. International Conference on Distributed
Computing Systems Workshops (Icdcs). Nara, Nara, Japan: IEEE. pp. 168–75.
doi:10.1109/ICDCSW.2016.28 (https://doi.org/10.1109%2FICDCSW.2016.28). ISBN 978-1-
5090-3686-8. ISSN 2332-5666 (https://www.worldcat.org/issn/2332-5666).
Raval, Siraj (2016). Decentralized Applications: Harnessing Bitcoin's Blockchain
Technology (http://shop.oreilly.com/product/0636920039334.do?sortby=publicationDate).
Oreilly. ISBN 9781491924549.
Bashir, Imran (2017). Mastering Blockchain. Packt Publishing, Ltd. ISBN 978-1-78712-544-
5. OCLC 967373845 (https://www.worldcat.org/oclc/967373845).
Knirsch, Fabian; Unterweger, Andread; Engel, Dominik (2019). "Implementing a blockchain
from scratch: why, how, and what we learned" (https://jis-eurasipjournals.springeropen.com/
articles/10.1186/s13635-019-0085-3#citeas). EURASIP Journal on Information Security.
2019. doi:10.1186/s13635-019-0085-3 (https://doi.org/10.1186%2Fs13635-019-0085-3).
S2CID 84837476 (https://api.semanticscholar.org/CorpusID:84837476).
D. Puthal, N. Malik, S. P. Mohanty, E. Kougianos, and G. Das, "Everything you Wanted to
Know about the Blockchain (http://www.smohanty.org/Publications_Journals/2018/Mohanty_
IEEE-CEM_2018-Jul_Blockchain.pdf)", IEEE Consumer Electronics Magazine, Volume 7,
Issue 4, July 2018, pp. 06–14.
 David L. Portilla, David J. Kappos, Minh Van Ngo, Sasha Rosenthal-Larrea, John D. Buretta
and Christopher K. Fargo, Cravath, Swaine & Moore LLP, "Blockchain in the Banking
Sector: A Review of the Landscape and Opportunities (https://corpgov.law.harvard.edu/2022/
01/28/blockchain-in-the-banking-sector-a-review-of-the-landscape-and-opportunities)" ,
Harvard Law School of Corporate Governance, posted on Friday, January 28, 2022

External links
Media related to Blockchain at Wikimedia Commons

Retrieved from "https://en.wikipedia.org/w/index.php?title=Blockchain&oldid=1089251977"

This page was last edited on 22 May 2022, at 19:05 (UTC).

Text is available under the Creative Commons Attribution-ShareAlike License 3.0;

additional terms may apply. By
using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia® is a registered trademark of the
Wikimedia Foundation, Inc., a non-profit organization.