ABSTRACT
This chapter discusses what blockchain actually is, because an understanding is important to see the enormous potential of it. It explores the intricacies of cryptocurrencies and tokenomics, the impact of blockchain on privacy and reputation. The chapter deals with discussing how blockchain will affect several industries. It examines the blockchain technology can create value by enabling a network of peer-to-peer actors distributed across the globe, collaborating effortlessly and in real time, to create value for all actors in the network. Private blockchains are generally used by organisations that like to keep a shared ledger for settlement of transactions, such as, for example, within the financial services industry or as part of a supply chain. The type of blockchain that an organisation could opt for depends on the objective of the organisation and on the type of transactions that need to be stored on a blockchain. Blockchain-enabled products and services are commonly referred to as Decentralised Applications.
