Thomson Reuters (aka: Westlaw) has a introductory primer up on the increased use of blockchain technologies in both the financial and legal sectors.
Most people first hear of blockchain technology in connection with its use as the underlying technology for Bitcoin, a digital currency. Digital or virtual currencies, which have steadily become more widespread, are representations of value that can be transferred, stored, and traded electronically. Bitcoin is the most well-known of these currencies, and has increased to a market capitalization of over $15 billion since its creation in 2009. While much of the focus on Bitcoin and other digital currencies has been on the potential substitute for fiat currencies, there is a growing view that the true innovation is the infrastructure underlying virtual currencies—the decentralized ledger of transactions called the “blockchain.”
[Note: The article is partially pay-walled. To read the full piece you will need a Westlaw login.]