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Definition: blockchain revolution


The monumental change in thinking about financial systems worldwide. Starting with the Bitcoin cryptocurrency in 2009, blockchain protocols such as Bitcoin, Ethereum and a raft of others have turned the financial world upside down. While El Salvador makes Bitcoin legal tender, China has banned it entirely. The U.S. is contemplating if and how it should regulate cryptos, while every financial and legal system (bank accounts, loans, mortgages, payment systems, contracts, titles, etc.) are potentially candidates that might take advantage of a decentralized version of their services. See Bitcoin, Bitcoin vs. Ethereum, blockchain and crypto glossary.