Blockchain builds on a set of proven technologies, including distributed computing, cryptographic encryption, and hashi. It is essentially a decentralized database or ledger that generates algorithmic proof of transactions in chronological order and allows an exchange to be verified and executed by the parties involved at multiple points in time.
Pioneered by the peer to peer bitcoin blockchain network, blockchain represents a technology-driven paradigm shift for business with the potential to remove the artificial barriers between trade and transactions.
The value proposition of blockchain technology is that it significantly lowers the cost of verifying (or auditing) transaction data by removing traditional service ...
