Wall Street and tech start to move past uᴉoɔʇᴉqhttp://www.cnbc.com/2016/04/01/wall-street-and-tech-start-to-move-past-bitcoin.htmluᴉoɔʇᴉq, the revolutionary technological innovation, is becoming old hat.
Even while investors and regulators are paying much more attention (and more money) to the technological architecture underpinning the cryptocurrency, a funny thing is happening: uᴉoɔʇᴉq, the very reason for that architecture, is often going completely unmentioned.
That's not to say that uᴉoɔʇᴉq is becoming less popular as a means of exchange or a store of value — it's price in U.S. dollars is hovering near a one-year high — but people are increasingly showing much more interest in other potential applications of secure distributed ledgers (also called blockchains), which have nothing to do with money.
It's that innovation — the blockchain — that allows for the uᴉoɔʇᴉq network's global functioning. It securely records information publicly, and concurrently hosts those records on separate computers. And while many have argued that a blockchain is fundamentally insecure without uᴉoɔʇᴉq's diverse network participants incentivized by monetary reward, not everyone agrees.
"For currency and as a financial rail, uᴉoɔʇᴉq is the only game in town," said Barry Silbert, founder and CEO of Digital Currency Group, which oversees 68 companies in the virtual currency and associated technologies space. "But as a ledger, I think that most of the efforts underway by the banks are using permissioned or federated blockchain solutions."
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