Thanks again to the WSJ (and this time, I promise, it's not behind their paywall) for the following article that explains the fundamental concept of blockchain technology.

Whilst the first iteration of blockchain was a payment processing platform for Bitcoins - with the subsequent high profile collapse of the Mt Gox exchange and association as the de facto currency fueling the Silk Road (illegal) marketplace, for many outsiders the whole Bitcoin ecosystem had become toxic. Think again.

When Digital Asset Holdings - a blockchain start-up run by Blythe Masters (JPMorgan's former head of commodities) - was recently engaged by JPM itself to run a trial project, it was perhaps the banking sectors' biggest statement of intent to date.

If you have a spare 5-10 minutes to read this, I guarantee you will know more than 'enough to be dangerous' the next time somebody engages you on the subject...