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Wall Street is obsessed with [Blockchain] technology that no one quite understands — here's the best explanation we've seen

Goldman Sachs says the technology "has the potential to redefine transactions" and can change "everything."

JPMorgan last month announced it was launching a trial project with the blockchain startup led by its former executive, Blythe Masters.

Her company, Digital Asset Holdings, has secured funding from Goldman, Citi, ICAP, and a handful of other financial firms.

Exciting, right? One problem: Hardly anyone seems to understand what Blockchain is.

Barclays' Kenneth Hill took a stab at it in a note on Friday, and it's one of the best explanations we've seen yet.


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A Blockchain is just a record that is distributed among many parties.

Blockchain was demonstrated by Bitcoin.

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