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Blockchain can enable parties with no particular trust in each other to exchange digital data on a peer-to-peer basis with fewer or no third parties or intermediaries. Data could correspond, for instance, to money, insurance policies, contracts,land titles, medical and educational records, birth and marriage certificates, buying and selling goods and services, or any transaction or asset that can be translated into a digital form. The potentialof blockchain to engender wide-ranging changes in the economy, industry and society – both now and tomorrow – is currently being explored across sectors and by a variety of organisations.The report Blockchain Now and Tomorrow brings together research from different units and disciplinary fields of the Joint Research Centre(JRC), the European Commission’s science and knowledge service. It provides multidimensional insights into the state of blockchain technology by identifying ongoing and upcoming transformations in a range of sectors and setting out ananticipatory approach for further exploration. Moving beyond the hype and debunking some of its controversies, we aim to offer both an in-depth and practical understandingof blockchain and its possible applications.

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Mathematics