Crashing cryptocurrency values have made headlines along with Fed comments on oversight of decentralized finance (DeFi), but the crypto winter is just a subplot in a much bigger story for the global economy. That story is blockchain, and the recent Ethereum merge ─ expected to drastically lower the energy consumption of its network ─ is again bringing the significance of this technology into the forefront. But blockchain technology doesn’t just underlie cryptocurrency — it also enables a host of other advances that will transform the business world. (That includes the metaverse, which you can learn more about in this recent white paper from SC Ventures.)
Why is blockchain such a big deal? Trust. Blockchain technology creates a secure, shared record of transactions and contracts without relying on a central authority. The benefits of blockchain — speed, security, lower costs and traceability of payments and transactions — are poised to overhaul the processes associated with everything from sharing medical records to buying a home or vehicle. Decentralized applications (DApps) hosted on blockchains can make it possible for users to lend, process payments and exchange currencies without a third party. Here's a preview of the blockchain trends and innovations you'll learn about in our infographic, featured in full down below.
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