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When Bitcoin entered the market in 2009, the value of one bitcoin was $.06 and few noticed. When the price of one bitcoin rose above $19,000 in December 2017, it and its underlying “blockchain” technology became the newest buzzwords and took the world by storm. Just adopting the word “blockchain” seemingly created value. For example, when Long Island Iced Tea, a company that sells beverages, changed its name to Long Blockchain Corp. in 2017, its stock price rose almost 300 percent in one day even though it had yet to actually be involved with blockchain. While many have invested in bitcoin, few really understand the underlying blockchain technology, where it came from, and where it is going.

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