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BlockChain Technology - UC Berkeley Sutardja Center

BlockChain Technology Beyond Bitcoin Abstract Ablockchainisessentiallyadistributeddata baseofrecordsorpublicledgerofalltransact ionsor ,once entered, ,thedecentralizedpeer to peerdigitalcurrency,isthe controversialbuttheunderlyingblockchaint echnologyhasworkedflawlesslyandfoundwide rangeof applications in both financial and non financial world. Themainhypothesisisthattheblockchainesta blishesasystemofcreatinga distributed consensus digitaleventhappenedbycreatinganirrefuta blerecordinapublicledger. Itopensthedoorfor tremendous opportunities in this disruptive Technology and revolution in this space has just begun. Thiswhitepaperdescribesblockchaintechnol ogyandsomecompellingspecificapplications inboth financialandnon in this fundamental Technology that is all set to revolutionize our digital world.

However, Blockchain technology itself is non-controversial and has worked flawlessly over the years and is being successfully applied to both financial and non-financial world applications. Last year, Marc Andreessen, the doyen of Silicon Valley’s capitalists, listed the blockchain distributed consensus

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BlockChain Technology - UC Berkeley Sutardja Center

scet.berkeley.edu

Blockchain technology is finding applications in wide range of areas—both financial and non-financial . Financial institutions and banks no longer see blockchain technology as threat to traditional business models. The world’s biggest banks are in fact looking for opportunities in this area by doing research

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