Blockchain technology, or distributed ledger technology, is just a way of using the modern sciences of encryption to enable entities to share a common infrastructure for database retention.

The blockchain is the financial challenge of our time. It is going to change the way that our financial world operates.

Distributed ledger technology is fashionable. In fact, if you could wear it, you'd put Ralph Lauren out of business, at least in my case.

If you think about any multiparty process where shared information is necessary to the completion of transactions, and the coordination of activity and the exchange of value, that's where blockchain technology can be put to good use.

We all want a non-fragmented solution, but the utopian version of a single blockchain to rule them all is undesirable and impractical.

With private chains, you can have a completely known universe of transaction processors. That appeals to financial institutions that are wary of the bitcoin blockchain.