Blockchains are particularly suitable for situations in which it is necessary to know the history of the transfer of ownership. For example, they could help manage supply chains more efficiently, to offer the certainty that those diamonds come from ethical sources, that those clothes aren’t made in exploitative factories, and that champagne actually comes from Champagne.

They could finally help solve the problem of music and video piracy, while allowing legitimate second-hand digital media such as books, vinyl and video tapes to be bought and sold.

They also present opportunities in all kinds of public services, such as healthcare and welfare payments, for example, and furthermore, since they are in effect self-executing contracts, they pave the way for companies that operate without any human intervention.