Blockchain is the technology that underpins cryptocurrencies like ether and bitcoin. Also known as distributed ledger technology, blockchain is a continuously growing log of data that is decentralized, meaning it is not governed by any central authority.
“The news that Ethereum is being used as a base identity layer in conjunction with some of the larger banking giants out there is a positive ratification of the technology,” Charles Hayter, chief executive of digital currency comparison site Crypto Compare, told CNBC in an email.
Bitcoin, the world’s largest cryptocurrency, made its debut on a major futures exchange Sunday. Hayter said that bitcoin’s move into a more conventional markets may lead investors to believe Ethereum to be the next big listing on Wall Street.
“Ethereum as a…