"Blockchain" has become a buzzword in the technology and financial industries. It is often cited as a panacea for all manner business and governance problems. "Blockchain's" popularity may be an encouraging sign for innovation, but it has also resulted in the word coming to mean too many things to too many people, and—ultimately—almost nothing at all.

The word "blockchain" is like the word "vehicle" in that they both describe a broad class of technology. But unlike the word "blockchain" no one ever asks you, "Hey, how do you feel about vehicle?" or excitedly exclaims, "I've got it! We can solve this problem with vehicle." And while you and I might talk about "vehicle technology," even that would be a strangely abstract conversation. We should probably talk about cars, trains, boats, or rocket ships, depending on what it is about vehicles that we are interested in. And "blockchain" is the same. There is no "The Blockchain" any more than there is "The Vehicle," and the category "blockchain technology" is almost hopelessly broad.