Today’s New York Times features a report on the many uses of blockchain technology, which underlies Bitcoin, that go beyond financial transactions.
This brings new public visibility to a point we’ve highlighted for some time.
Though not mentioned by the Times, one exciting non-financial application of the blockchain could be secure online voting, which is not possible through conventional Internet technology.
Secure online voting could be a key factor making a global democracy technologically and logistically feasible.
Here’s the Times:
The blockchain, [entrepreneurs] say, could ultimately upend not only the traditional financial system but also the way people transfer and record financial assets like stocks, contracts, property titles, patents and marriage licenses — essentially anything that requires a trusted middleman for verification.
The Times story also includes a pretty good basic description of the blockchain and what it can do.
Once again, the blockchain by itself isn’t the whole answer to enabling online voting, but it could get us over a couple of big security hurdles that have been insurmountable until now.
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