Ride the Lightning

NIST Issues “Blockchain Technology Overview”

February 5, 2018

The National Institute of Standards and Technology (NIST) has issued a report titled "Blockchain Technology Overview." The report is intended to provide a high-level technical overview and discusses the application of blockchain technology to electronic currency in depth as well as broader applications.

"We want to help people understand how blockchains work so that they can appropriately and usefully apply them to technology problems," said NIST computer scientist Dylan Yaga, who is one of the authors of the report. "It's an introduction to the things you should understand and think about if you want to use blockchain." According to Yaga, blockchain technology is a powerful new paradigm for business.

"Because the market is growing so rapidly, several stakeholders, customers and agencies asked NIST to create a straightforward description of blockchain so that newcomers to the marketplace could enter with the same knowledge about the technology," according to the NIST press release.

The NIST draft report is open to public comments from January 24 to February 23, 2018.

It has been my observation that Blockchain is poorly understood – even as folks embrace it or criticize it. This is a publication well worth a careful read.

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