Most of the time although, they are speaking about distributed ledgers, i.e. a list of transactions that’s replicated across a number of computers, somewhat than being stored on a central server. Many within the financial providers business discuss with blockchain know-how as distributed ledger know-how. And some see blockchain as a more reliable database than their existing databases. As digital money becomes increasingly widespread, and matched with an estimate that more than 50% of the world’s population owns a smartphone, some believe that blockchain technology will supplant the banking industry’s old know-how.