Blockchain

Blockchain is a distributed, immutable ledger that allows recording transactions as well as tracking assets in a business network. Business runs on information. The faster and more accurate the information becomes, the better. Because of this, blockchain is ideal for providing the information: immediate, shared, and observable in an immutable ledger that only permissioned network members can access. 
A blockchain network can track orders, payments, accounts, production and much more. And because members share a single view of the truth, you can see all details of a transaction end to end, giving you greater confidence, and new efficiencies and opportunities.


Key elements of a blockchain:
Distributed ledger technology
 Immutable records   

How blockchain works:
As each transaction occurs, it is recorded as a “block” of data
Each block is connected to the ones before and after it
Transactions are blocked together in an irreversible chain: a blockchain

Benefits of blockchain:
Greater trust
Greater security
More efficiencies

SOURCE OF INFORMATION:
  • https://www.ibm.com/topics/blockchain
  • https://in.images.search.yahoo.com/search/images;_ylt=AwrKEjUtfBJnKgIA0TK7HAx.;_ylu=Y29sbwNzZzMEcG9zAzEEdnRpZAMEc2VjA3BpdnM-?p=blockchain+image&fr2=piv-web&type=E210IN885G0&fr=mcafee#id=4&iurl=https%3A%2F%2Fcdn.pixabay.com%2Fphoto%2F2019%2F04%2F15%2F11%2F50%2Fblockchain-4129138_1280.jpg&action=click

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