The Blockchain technology - first got to known as the technology behind the cryptocurrency Bitcoin - is now perceived as a trend in itself with several application fields including the public sector. According to Gartner the technology is already beyond its peak of inflated expectations and will reach its plateau of productivity in 5 to 10 years. [1] That shows that there is a general hype about the technology but that the same is not sophisticated enough yet.

The Blockchain is an IT-gadget that supports shared transaction processing. Consequently, the decentralized structure omits any intermediary and the technology is instead based on transparent and shared consensus mechanisms. [2]

 

[1] Gartner (2018), Hype Cycle for Emerging Technologies, https://blogs.gartner.com/smarterwithgartner/files/2018/08/PR_490866_5_Trends_in_the_Emerging_Tech_Hype_Cycle_2018_Hype_Cycle.png, retrieved November 23, 2018.

[2] Welzel, C. et al. (2017), Mythos Blockchain: Herausforderung für den öffentlichen Sektor. Kompetenzzentrum Öffentliche IT, Fraunhofer FOKUS (Ed.), p. 8, http://publica.fraunhofer.de/eprints/urn_nbn_de_0011-n-438569-19.pdf, retrieved November 23, 2018.

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