Blockchain

The blockchain technology is continuing to disrupt several industries through the variety of use cases. This technology is a tamper-proof digital ledger of transactions that can be used to store valuable information and can be shared without compromising the security of the network. Information stored on a blockchain network is stored in a block that is connected to the next block making it a highly-secure data chain. Users having a private key can access and share data in real-time without having to think about safety.

The blockchain is being used by several industries as a self-reliant data management framework. Apart from the financial uses such as in the case of cryptocurrencies, enterprises are using this to comply with data storage and management protocols, understanding customers better and transmitting critical information, securely.

This technology does not suffer from the problem of single point of failure as the network is highly decentralized. No single entity can control the network while everyone has the power to harness the network. The technology has multiple applications for modern businesses. From manufacturing to finance, logistics to supply chain management, healthcare to data processing, the possibilities are endless here.