For the first time, a leading venture capital firm, Union Square Ventures, invested in a blockchain token-trading fund—an unprecedented and ringing endorsement of perhaps the most dynamic and least understood alternative asset class today. Yet blockchain technology has more uses than simple sales and trading.
Blockchain has been described as a digital ledger that chronologically and publicly records transactions made in cryptocurrency, managing access to realtime self-populating financial records and self-enforcing contracts. Its underlying protocol is the basis behind bitcoin, the notorious and ubiquitous digital currency that began the digital currency revolution.
“Bitcoin is a powerful and highly valuable alternative asset, but its basis—blockchain—is even more valuable because of its seemingly unlimited derivative potential. And that brings us to Ethereum.”
– Peter Borovykh, Finance Blockchain Expert