Blockchain

Overview

What is Blockchain?

Blockchain is a secure, shared, distributed ledger. In other words, it is a transaction dataset that's validated by a wider community, rather than a central authority. Blockchain is a transparent and verifiable system that is distributed among a network of computers. The technology securely distributes and verifies the ledger across the entire network without the need for third-party intermediaries. Blockchain allows for business processes and data to be shared across multiple organizations, which eliminates waste, reduces the risk of fraud, and creates new revenue streams.

Why is Blockchain important?

There are both incremental and transformative benefits to using Blockchain technology. From transforming the way financial institutions move money to changing how our medical records are handled, shared ledger technology will soon be the way that many business transaction processes are done. 

As Blockchain evolves to meet enterprise needs, it is poised to disrupt many industries 

• Finance: Permanent records for the millions of transactions that place in the banking and finance industry every day
• Real Estate: Secure storage for all documents and transaction records with less work and cost
• Healthcare: Secure storage, as well as, accurate and safe transfer of medical records between parties
• Legal: Record history stored on blockchain will be quickly and securely verified. Any changes will be authenticated and stored
• Supply Chain: Track status and product custody as physical goods pass between parties and points in the supply chain process
• IoT: Bring scalable, decentralized security and trust to IoT devices, applications, and platforms