Learning objectives

After this chapter, you should be able to:

• Explain the basic coordination problem that a blockchain addresses.

• Distinguish a network, its native asset, an application, a tokenised claim and an intermediary balance.

• Describe four broad purposes for which crypto systems are used.

• Follow a simple transaction from instruction to recipient credit.

• Identify where control and trusted dependencies remain.

• Separate a useful service, a viable business and an attractive token investment.