Ursidae: The Undergraduate Research Journal at the University of Northern Colorado


Luca Savron

Faculty Sponsor

Wanasika, Isaac


The purpose of this study is to describe the functioning and application of one of the most recent innovations: the blockchain technology. Blockchain technology was initiated in 2008 by Satoshi Nakamoto, a pseudonym for a mysterious publisher of an article explaining how the combination between cryptography and distributed public ledgers could be combined to implement a digital currency without a central authority to authenticate the payments. Using data from current literature, news media, and relevant websites, we describe the functioning of this technology from a European perspective. We present a case study of a pioneering company that has successfully implemented the innovation in Europe. Finally, we discuss potential business and non-business benefits of blockchain technology.

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