Samsung Insights: Block chain has huge implications for the banking industry as well as the IoT.

“Block chain” and the “Internet of Things” (IoT) may be the buzzwords of the moment, and for good reason. In the last few years, the decline in value of Bitcoin shifted the debate on its disruptive impact from a focus on a single currency to the potential impact of the underlying technology of block chain, a permission-less, distributed database also referred to generically as the distributed ledger. Innovators and idealists in the venture capital space — initially united behind the Bitcoin ledger — gave way to a debate between industry experts and those at startups such as Bitcoin, CoinBase and Ripple Labs that led to a view that the database was potentially more important than Bitcoin had been over the past two years