Cryptocurrencies and blockchain are two words that are frequently used interchangeably. But they are two completely different concepts.
Cryptocurrencies are digital money that exist exclusively in the digital realm. Unlike traditional currencies, these digital assets are not backed by any central government or bank. Instead, they are decentralised and managed by a network of computers running a distributed ledger system, known as the blockchain. Blockchains, however, offer a wide range of applications outside of cryptocurrencies, including the storage and access of financial records, supply chain and logistical data, and medical data.