Blockchain technology is a relatively new concept. Conceptualized in 2008 by an anonymous person or group known as Satoshi Nakamoto, the technology was implemented in early 2009 with the inaugural mining of the first 50 bitcoins. The concept itself is rather complex, but Robert Parham, a professor at UVA’s McIntire School of Commerce, summarizes cryptocurrency as an “immutable” form of currency that remembers each of its former transactions via the blockchain, which serves as a public ledger of sorts.