While we cannot really predict the precise role blockchain technology will play for the economy and society as a whole just yet, it could lead to fundamental changes. Transactions, contracts and the ways they are recorded are key elements of our economic system, but they have not kept pace with the digital transformation. Blockchain technology now promises to solve this problem. Many experts see it has the next step in the evolution of the World Wide Web. They believe that it is as important as the Internet was and still is. When the Internet first emerged, it changed the way data are distributed and consumed. Blockchain technology could do the same for the way transactions between two or more parties are conducted.