Blockchain technology makes cryptocurrency like bitcoin possible, but it has a lot of potential beyond tracking currency transactions. The Linux Foundation wants to tap into that potential and is spearheading a collaborative effort to develop an enterprise-grade open source distributed ledger called Hyperledger.
At its core, blockchain is a record-keeping system running across a global network of independent computers. The distributed ledger, which records and verifies transactions, is write-only — that is, transactions cannot be tampered with or modified after the fact, so virtually anything of value can be tracked and traded using this system.
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