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Innovations in blockchain technology beyond cryptocurrencies from "summary" of Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond by Chris Burniske,Jack Tatar
Blockchain technology, the underlying technology behind cryptocurrencies such as Bitcoin, has the potential to revolutionize various industries beyond just digital currencies. One of the key innovations in blockchain technology is the concept of smart contracts. Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code. These contracts run on the blockchain and automatically enforce the terms of the agreement without the need for intermediaries. Another advancement in blockchain technology is the development of decentralized autonomous organizations (DAOs). DAOs are organizations that are run by smart contracts and operate without the need for centralized management. This enables transparent, efficient, and autonomous decision-making processes within organizations. Additionally, blockchain technology has the potential to revolutionize supply ...
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