Back to the Blockchain Basics

Back to the Blockchain Basics

  • March 2021 •
  • 9 pages •
  • Report ID: 6036153 •
  • Format: PDF
This IDC Perspective looks at the unique characteristics of blockchain and decentralized ledger technology (DLT). As the global pandemic has reignited interest in the technology, especially as it can be used to offer resiliency, transparency, and efficiencies to vital industries like financial services, supply chains, and healthcare, remembering why blockchain is considered transformational and disruptive is important. The document also looks at the lingering questions about the utility, scalability, and reliability of blockchains and decentralized ledgers.According to James Wester, research director, Worldwide Blockchain Strategies, at IDC, "Blockchain, distributed ledgers, and decentralized architectures remain important, and the growth of use cases in financial services such as decentralized finance and digital assets are reminders that the technologies will continue to disrupt many industries. This document is an effort to reintroduce some of the core concepts that make blockchain important."