[2016-05-04] Firstpost: Blockchain: The underlying Bitcoin technology

Blockchain: The underlying Bitcoin technology that’s worth so much more

http://tech.firstpost.com/biztech/blockchain-the-underlying-bitcoin-technology-thats-worth-so-much-more-312966.html

As the debate still rages on about who the Bitcoin founder is, the tech industry isn’t really following it. That’s because bitcoin, the digital currency, has largely been supplanted by blockchain, the technology that underlies it, as the main interest of investors, technology companies and financial institutions, say reports. The blockchain technology works by creating permanent, public “ledgers” of all transactions that could potentially replace complicated clearing and settlement systems with one simple ledger. Still, bitcoin is by far the largest implementation of blockchain technology and there is considerable debate as to whether one can truly develop without the other.

To gain some more insight on the technicalities of blockchain and what potential it holds, Tech2 talked to Sriram Raghavan, Director, IBM Research – India and Praveen Jayachandran, Research Scientist, IBM India and got them to shed some light on this emerging tech trend.