FinTech and Banking

What is Blockchain?

27 April 2022

Hits 603

3 min read

Blockchain is a decentralized, distributed electronic database shared across a public or private network. Every transaction in a blockchain database is shared among a number of users, each one verifying that the database is accurate and preventing unauthorized transactions from being completed.

While the first version of blockchain was introduced by the Bitcoin protocol as a form of “peer to peer electronic cash,” the technology has implications far beyond financial transactions. In fact, if you have valuable data you need to protect, blockchain might be the key to guarding it against security threats and ensuring its integrity.

Because blockchain can streamline and cut out third-party middlemen, it can provide a faster and cheaper way to share critical and confidential business data or personal information. It also creates an indisputable digital trail of transactions, making it possible for you to audit that trail so that you can know exactly what has been happening on your network.

In other words, blockchain ensures that you are basing business decisions on accurate, reliable data by allowing you to create a verifiable digital record of every financial transaction, process, task, contract and more.

Yet blockchain is more than just a transactional database for critical data. Once data is committed onto a blockchain, it’s permanent and nearly impossible to manipulate or hack. As such, businesses that adopt blockchain can operate more leanly and efficiently with greater trust in the security of their data. This is why organizations are turning to technology to solve a wide range of problems, including quality assurance, accounting, contract management, supply chain management, data protection and much more. Regardless of your industry or business type, blockchain has potential to help cut costs, improve customer service or boost overall efficiency.

Prev- Post

7 Things to Know Before Buying a House

Next- Post

What not to do before buying a house: 7 Mistakes to avoid

Comments (3)

Ralph Edwards

December 2, 2021

The staff at Cushman & Wakefield come from unusually diverse demographic backgrounds. The company is 42.3% female and 42.4% ethnic minorities. The diversity in Cushman & Wakefield employees extends to employee political beliefs. Its employees are politically diverse and represent a balanced blend of political orientations, with 49.5% Democrats and 49.5% Republicans. Despite their political differences, employees at Cushman & Wakefield seem to be happy.

Savannah Nguyen

December 2, 2021

The diversity in Cushman & Wakefield employees extends to employee political beliefs. Its employees are politically diverse and represent a balanced blend of political orientations, with 49.5% Democrats and 49.5% Republicans. Despite their political differences, employees at Cushman & Wakefield seem to be happy.

Robert Fox

December 2, 2021

The staff at Cushman & Wakefield come from unusually diverse demographic backgrounds. The company is 42.3% female and 42.4% ethnic minorities. The diversity in Cushman & Wakefield employees extends to employee political beliefs. Its employees are politically diverse and represent a balanced blend of political orientations, with 49.5% Democrats and 49.5% Republicans. Despite their political differences, employees at Cushman & Wakefield seem to be happy.

Comments (3)

Fill this form to get started

Got an idea? Turn it Into Reality.

Discuss your project with our senior specialist to chalk out a plan to bring the project into life.