The Marquette Blockchain Lab, established in the fall of 2017, facilitates education, research and innovation, and collaboration in the interest of advancing knowledge and implementation of distributed ledger solutions. It is an interdisciplinary initiative that unites students, faculty, and community partners from across disciplines and industries to create workable blockchain solutions to a wide array of problems.
Blockchain, also known as “distributed ledger technology,” is a groundbreaking technological innovation based on the cryptographic system that underpins the virtual currency bitcoin. It was introduced as a “peer-to-peer electronic cash system” via a white paper anonymously penned by “Satoshi Nakamoto” in October of 2008, amidst the global financial crisis. Since its introduction, the technology has expanded beyond the initial bitcoin application. Today, blockchains are decentralized networks of computers that jointly manage data records on a peer-to-peer basis, offering the ability to create immutable records via “trustless,” transparent systems that remove middle men. They can be public, as in the case of the Bitcoin and Ethereum blockchains, or private, as in the case of IBM’s Hyperledger solutions for corporate partners.
According to Goldman Sachs, blockchain is "redefining the way we transact...[and] has the potential to change the way we buy and sell, interact with government and verify the authenticity of everything from property titles to organic vegetables." The technology is being explored by Fortune 500 companies, governments, academics institutions, think tanks, and the startup community. IBM referred to blockchain as the "framework for Industry 4.0.”
For more information about the Marquette Blockchain Lab, contact Heather Sullivan at email@example.com.
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