"This report explains the technologies which underpin blockchain, how blockchain works, potential applications for blockchain, concerns with it, and potential considerations for Congress. Blockchain is not a new technology; rather it is an innovative way of using existing technologies. It enables parties who may not have reason to trust each other to agree on the current distribution of assets and who has those assets, so that they may conduct new business. But, despite the hype surrounding the technology, it has certain pitfalls which can inhibit its utility."
CRS Report for Congress, R45116