The future of blockchain technology and cryptocurrencies.

Abstract

In recent decades a lot of industries have been severely disrupted by technological innovation. Blockchain technology has the potential to be the next major disruption. Blockchain technology was first introduced in 2009, a long side the cryptocurrency, Bitcoin. Blockchain is the technology which allows cryptocurrencies to exist. Financial institutions were the first to pay notice to it, as it was in simple words a new payment system.However, since 2009 the blockchain has sparked interest in other markets as well. Many are seeing potential to create efficiency by using blockchain technology, for example in supply chain management. Already, many different use cases for blockchain technology have been identified and yet one can predict there are still many more to come. This thesis considers the future prospects of blockchain technology and cryptocurrencies in financial markets, as well as in others. Throughout the thesis there are examples and scenarios to show their possible use cases. In many use cases Blockchain technology can be used to create efficiencies, and for that reason it could ultimately become one of the most groundbreaking technological innovations of our time. The Blockchain has the potential to revolutionize how value is exchanged. The future of blockchain technology is full of potential and possibilities. The value of cryptocurrencies is dependent on the value creating properties of its underlying blockchain. The currency itself is simply a unit of account while the blockchain is the true value.