Can blockchain be used without cryptocurrency?

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Are you one of those who think blockchain is all about crypto? Good news, you have a whole world to discover.

Private blockchain examples include Hyperledger and Corda. The Linux Foundation created the Hyperledger project, which uses private blockchains to create distributed ledgers to support confidential commercial transactions. Another permissioned blockchain project developed by R3 is called Corda, and it is intended for companies who wish to develop interoperable distributed networks with private transactions.

In addition, you can buy stocks of a company that is developing blockchain solutions to gain indirect exposure to distributed ledger technologies without making any cryptocurrency investments. Meaning that there are many benefits of blockchain other than supporting cryptocurrencies. Whether directly or indirectly investing in blockchain-based startups, however, be aware of the risks like technical glitches,Can smart contracts exist without blockchain?

Similar to smart contracts, database systems can have self-executing components such as triggers and stored procedures. Still, they cannot enforce immutability because anyone with administrator rights can undo any transaction, purge transaction logs, etc., and make it appear like it never happened. As a result, blockchain will always be required for smart contracts that need to be safe and tamper-proof.

 

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