Blockchain Technology

“The Blockchain technology is as significant now

as the internet was 25 years ago”.

The blockchain is an encoded, distributed database that records data or in other words, it is a digital ledger of any transaction, contracts that needs to be independently recorded. One of the important features of Blockchain is that this digital ledger is accessible across several hundreds and thousands of computer and is not bound to be kept in a single place. Blockchain chain has already started agitating the financial sector, the participants can interact directly and can make transactions across the internet without the interference of a third persons. Such transaction through blockchain will not share any personal information regarding the participants and it creates a transaction record by hiding the identifying information.

The most exciting feature of Blockchain is that it greatly decreases the possibilities of a data chip. There are multiple shared copies of the same data base which makes it challenging to wage a data chip attack or cyber-attack. With all the fraud resistant features, Blockchain technology holds the potential to revolutionize various business sectors and make processes smarter, secure, transparent and more efficient compared to the traditional business processes. It increases tine effectiveness due to real-time transaction and highly secure due to cryptographic and decentralized Blockchain protocols.

“The Blockchain symbolizes a shift in power

from the centers to the edges of the network”.

M.Nasreen