It is also important to note that while the potential for the Blockchain technology is bright, it also has a lot of issues. Due to the fact that you cannot eliminate anything which has been recorded on the Blockchain technology, the ledger used by the Blockchain technology would keep on increasing without any way of reducing in size. Also, because everything that is being put into the system has to pass through a verification process, the process is very long and can be very tiresome.
Despite all these complications, the Blockchain technology has a lot of potential as regard to storing and tracking data. In the near future, the Blockchain technology is primed to offer a better option for making transactions which would have otherwise been handled by your banks.
It is good that the bitcoin is no longer directly affiliated with the Blockchain technology. This is due to the fact that bitcoin seriously limits the growth of the Blockchain technology. It remains to be seen how banks and institutions will adapt to the emergence of the Blockchain or leave themselves facing future difficulties.