Bitcoin, other cryptocurrencies, blockchain, and most recently initial coin offerings (ICOs) are expected tohave a far-reaching impact on the global economy—eventually.Blockchain use cases are rapidly emerging invarious industries, and startup businesses continue to announceICOs as an alternative means of raising capital, even amidstregulatory investigations. While some see these technologies asobscure, or even faddish, others expect distributed ledgertechnologies to end up changing our economic and social systems insome truly fundamental ways.

Still, some treasury and finance managers' understanding ofthese technologies is plagued by misconceptions. Key among these isthe idea that blockchain, bitcoin, cryptocurrency, and ICOs areinterchangeable terms.