Blockchain came into existence in 2009 as the original source code for Bitcoin. Initially associated with cryptocurrency, over the last five years businesses and industries have started to recognise the potential of blockchain technology.
Blockchain is the latest disruptive force to hit the corporate travel industry. With an estimated $2billion of venture capital invested in cryptocurrencies to date, how will blockchain affect business travel stakeholders? What opportunities does it create and over what timescale? We aim to separate the hype from the reality in our latest white paper.
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Put simply, blockchain is a central database of records which are linked and secured using cryptography. It’s a digital ledger in which transactions - financial and otherwise - are recorded and processed securely and permanently, accessible only by those with access to the ledger.
But if you didn't know this, don't worry - only 39% of senior executives at large US companies surveyed indicated they had little or no knowledge about blockchain technology…