Use cases

Digital currencies were the first-ever application of blockchain technology, which arguably didn’t realize the technology’s full potential. Although Bitcoin, the first major blockchain conceptualization, was introduced in 2008, it was not until years later that blockchain technology’s possible applications beyond cryptocurrencies were realized. In 2010, the discussion started regarding BitDNS, a decentralized naming system for domains on the internet.

Then, Namecoin (https://en.bitcoinwiki.org/wiki/Namecoin) was started in April 2011 with a different vision to Bitcoin, the sole purpose of which was to provision electronic cash. This can be considered the first example of blockchain usage other than purely as a cryptocurrency.

Next, in 2013, the first Initial Coin Offering (ICO), MasterCoin, emerged, which paved the way for more ICOs. After that, Ethereum’s ICO was hugely successful. With the availability of Ethereum in 2015, a general...