BOSTON – While blockchain may never be a panacea for solving all business transaction problems, it will eventually become a foundational technology across industries that will lead to new business models.

Before that can happen, however, proprietary blockchains will have to run their course and be replaced by open software and industry standards that enable distributed ledgers to communicate across competing businesses and borders, according to Dale Chrystie, a FedEx business fellow and blockchain strategist.

[ Related: Blockchain vs. a database: What"s the difference? ]

"Some years from now, I think it"s a foundational layer under everything," Chrystie said during the Enterprise Blockchain Summit here this week. "Twenty year ago, you put the word "internet" in front of everything and now you don"t. Today, we"re putting the word "blockchain" in front of everything and I don"t think we"re going to in the future; it"s just going to be the way it works."

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