There is another way we can look at Bitcoin—as an application platform.
The key features of the Bitcoin blockchain, such as programmability, transparency, immutability, integrity, accountability, auditability, decentralized consensus, timestamping, security, direct peer-to-peer interaction, and its open source nature, among others, can enable a large range of applications beyond payments.
Bitcoin was originally designed as a payment system, but the baseline technologies that power it and its architecture open up much broader use cases. Its building blocks are not accounts, balances, payments, and wallets. This is rather a user-friendly application interface. In a similar way, other use cases and applications can be built on the Bitcoin blockchain.
Let's have a look at a few examples.
