A blockchain is a decentralized, distributed, public digital ledger. Blockchain software is used to record transactions across many computers. That way the record cannot be altered without altering all of the blocks in the network. This allows blockchain users to verify and audit transactions reliably and inexpensively. Blockchain software is used for:
Digital (Crypto) Currencies
Transactions between banks and financial institutions
Property Registration - to speed up sales and prevent fraud
Escrow solutions for multiple uses
Blockchain technology has the potential to transform business operating models. The distributed ledger technology it’s built on is a foundational technology with the potential to create new global economic and social systems, improving effieciency for global supply chains, financial transactions, asset ledgers and social networking.
If you have a blockchain project in mind, or would like more information about how blockchain software could be used in your industry, please contact us.