Chain reaction

Blockchain is a decentralized technology for storing and transmitting information, functioning as a digital ledger shared across a network of participants. Each “block” contains data (transactions, contracts, etc.) that is collectively validated via a consensus mechanism, then linked to previous blocks to form an unalterable chain.

Its core ambition is clear: to eliminate traditional trusted intermediaries (banks, institutions, platforms) in favor of a protocol that is secure, transparent, and automated.

Thanks to cryptography (a set of techniques, including encryption, that protect information), the data recorded on a blockchain becomes immutable, any change is timestamped and detected, ensuring integrity and traceability.

Autonomous programs called “smart contracts” can automatically execute actions once pre-defined conditions are met. 

Like any potentially disruptive technology, blockchain had a tumultuous start, closely tied to its early use cases in finance: speculative bubbles around Bitcoin, hype-driven cryptocurrency fundraising, etc.

But behind the volatility, a deeper shift is underway. Various sectors are already exploring practical blockchain applications that signal real disruption: 

• bankless loans and trading in decentralized finance,
• supply chain traceability (see example below), 
• academic credentials, property titles, and identity documents on blockchain, 
• or the authentication of artworks through digital certificates.

Each use case suggests a new model in which trust is placed in technology - not in traditional institutions. 

Widespread adoption of blockchain still faces major hurdles. First, its technical complexity: core concepts remain obscure to the general public, and user interfaces are not yet intuitive. Limited interoperability and high energy consumption also hinder the scaling of projects.

Moreover, a lack of clear legal frameworks slows down investment and institutional involvement, also human and organizational resistance remains high, blockchain challenges entrenched systems built on intermediaries and demands a cultural shift.

Overcoming these barriers requires broad-based education (citizens, companies, governments), clear regulation, and technical innovations to make blockchain more energy-efficient and user-friendly.

It also means building bridges between traditional players and innovators, so blockchain can become a tool for gradual transformation rather than sudden disruption.

If these challenges are met, blockchain could have a massive impact. It may help rebalance economic and political power, as well as pave the way for a more decentralized social organization.

Already, new models are emerging - such as decentralized autonomous organizations (DAOs), collectively governed via blockchain protocols.