Blockchain has the potential to impact many industries, including financial services, so the Boston Fed sought to understand its foundational technology with first-hand research. They wanted practical experience, the kind only trial and error can bring.

“Beyond Theory: Getting Practical With Blockchain” goes beyond the basics of distributed ledger technology and tells the story of the Boston Fed’s journey to understand how a blockchain platform could help us perform specific functions within our operations. Their journey involved developing two use cases for learning purposes only— they don’t intend to move them into production. This report describes the use cases, the technology we employed, and the insights the Boston Fed gained.