# Professor David Yermack underscores the growing importance of Bitcoin's Blockchain technology

1 Faculty News March 23, 2016 ![BusinessBecause logo](/sites/default/files/styles/246w/public/assets/images/BusinessBecause_logo.jpg?itok=HoBjU3u5)>

Excerpt from [BusinessBecuase](http://www.businessbecause.com/news/making-the-headlines/3882/10-bschool-exerts-on-bitcoin-blockchain) -- "'The potential appears to be enormous. Most of the large banks and other financial record-keeping institutions are looking closely at the technology,' says [David Yermack](http://www.stern.nyu.edu/faculty/bio/david-yermack), chair of NYU Stern’s finance department. 'It may turn out to be as important as the advent of double-entry bookkeeping in the Renaissance.'"

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