Adam Back: How Blockchain Can Prevent a Banking Crisis / 

Trust in the financial industry has weakened since the worst of the global recession in 2008 and again during the Greek debt crisis. For some experts, the current system is no longer appropriate and there may be a need to explore new technologies like the blockchain when it comes to preventing another meltdown from taking place.

Blockchain is the public ledger of transactions in bitcoin. While the cryptocurrency has hogged the spotlight in the past few years, the underlying technology in updating and storing entries on the blockchain is proving to have several practical applications in various industries such as finance.