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Payroll Tax & The Blockchain, Richard Thompson Ainsworth, Ville Viitasaari
Payroll Tax & The Blockchain, Richard Thompson Ainsworth, Ville Viitasaari
Faculty Scholarship
Bitcoin is an application that runs on blockchain technology. Blockchain is a foundational technology that is bringing in the second era of the Internet – the era where value can be transferred, rather than just information.
Blockchain is developing along a four-stage path similar to that which TCP/IP took. Both are foundational technologies. TCP/IP brought the Internet, and eventually brought significant (transformational) technological changes in business like Amazon.com and Skype. These are changes that could not have been forecast at the beginning of the Internet age.
Blockchain is an immutable distributed ledger. It replaces the inefficient use of multiple centralized …