Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.

These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.

The project was bootstrapped via an ether presale in August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss non-profit, with contributions from great minds across the globe.

Ethereum is often described as a digital currency but here’s something important to remember: Ethereum is much more than that. Ethereum represents a shift in how we think about using and interacting with technology. So what are some potential use cases for this new technology?

Payments: One of the most obvious use cases for Ethereum is as a digital currency. Transactions can be made quickly and easily without needing to go through a third party such as a bank or PayPal.

This could potentially revolutionize how we make online payments.

Smart Contracts: With Ethereum, smart contracts become possible. A smart contract is like a traditional contract, but it is written in code and stored on the blockchain.

This means that it can be enforced automatically, without the need for human intervention. This could have huge implications for many industries, such as real estate, banking, and insurance.

Supply Chain Management: Another interesting use case for Ethereum is in supply chain management. The immutable nature of the blockchain means that once something has been recorded on it, it cannot be changed or tampered with.

This could be used to track the movement of goods through supply chains, and ensure that they are not counterfeit or otherwise tampered with.

These are just some of the potential use cases for Ethereum. As this new technology develops, we are likely to see even more innovative and exciting uses for it emerge.