Distributed Ledger Technology (DLT) will play an important role in enabling new business networks and it will find its way into the core of many mainstream processes, but DLT will not bring about the dramatic transformation that proponents claim. While it will certainly play a role in supporting transformation, much of the hard work that will be required in order to digitize old and inefficient processes will have little or nothing to do with blockchain technology itself.
Listed below are the key developments in the history of blockchain, as identified by GlobalData.
2008 – Satoshi Nakamoto publishes original Bitcoin White Paper
2009 – First units of the bitcoin cryptocurrency released
2010 – Mt. Gox, a bitcoin exchange, launched in Tokyo
2013 – The price of a Bitcoin exceeds $1,000
2014 – Mt. Gox exchange suffers massive fraud and halts bitcoin withdrawals
2015 – Ethereum, an open-source, public blockchain platform is launched
2015 – Microsoft launches Ethereum-Blockchain-as-a-Service (EBaaS)
2015 – Visa, Citi, and Nasdaq invest $30M in blockchain start-up Chain.com
2015 – The Linux Foundation announces the creation of Hyperledger, a rival to Ethereum
2016 – Federal Reserve works on building a payment system in partnership with IBM
2016 – R3 CEV launches Private Distributed Ledger Pilot
2016 – Estonian E-Health Foundation launches project to safeguard patient EHRs using blockchain
2017 – Cisco, Foxconn, Gemalto and others form IoT Blockchain Consortium
2017 – IBM Blockchain, the first enterprise-ready blockchain service, is launched based on Hyperledger Fabric
2017 – Chronicled and the LinkLab announces the MediLedger project, a blockchain-backed system to safeguard the pharmaceutical industry
2018 – ASX launches the world’s first blockchain trading platform, built by Digital Asset Holdings
2018 – Senegal launches the world’s first national digital currency, the eCFA
2019 – FDA, IBM, Merck, Walmart, and KPMG collaborate on blockchain pilot project to track pharmaceuticals
This is an edited extract from the Blockchain in Healthcare – Thematic Research report produced by GlobalData Thematic Research.