Blockchain is a data structure used to create a digital ledger shared among a distributed network of computers. It was initially designed for the peer-to-peer exchange of the virtual currency bitcoin. However, businesses are now developing and testing some potentially game-changing blockchain applications.

According to a recent survey of executives across a variety of industries, 29% said their companies already participate in a blockchain consortium to share knowledge and/or cooperate in the research and development of blockchain applications. Another 45% said they are likely to join one in the next year. Even so, 39% of these global business leaders believe blockchain is overhyped.1

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