Blockchain technology has emerged through the developments of the Internet, centralized systems, and a world where “trust” has been lost. First introduced as the technology underlying cryptocurrencies, namely Bitcoin, blockchain technology disrupts the existing status quo through the elimination of traditional intermediary agents, where blocks of data are stored on a distributed, tamper-evident ledger. As an “Internet of Value,” the progression of data into value, in addition to blockchain's ability to enhance supply chains for radically transparent and traceable value chains, enables the creation of new business models contingent on the evolution of blockchain technology. Blockchain technology has succeeded its embryonic phase with more real-world applications within the 10 years of its inception. To propagate blockchain technology as the solution to many existing problems hinges on the hype factor; to date, the technology seeks to improve extant centralized system shortcomings and failures. The democratic potential of the technology will, however, rely on the technical improvements and regulations of consensus mechanisms and governance structures.