Member-only story
What is Blockchain?
A system that records information in such a way that makes changing, hacking, or cheating difficult to impossible is called Blockchain. Essentially it is a digital ledger of transactions that get duplicated and distributed across the globe on thousands of servers. Anyone on the network has access to everyone else’s entries in near real-time.
Bitcoin was one of the first applications of Blockchain followed by other cryptocurrencies. The financial industry initiated exploring Blockchain however it is a quickly-growing area of growth for companies across industries. Blockchain remains as one of the most promising technologies today. Let us take a closer look at upcoming Blockchain innovations and the way it is shaping different industries.
1. Plethora of applications
Blockchain is successfully being used in industries outside of cryptocurrency like shipping, voting, and food safety. IBM, Walmart, and Amazon are some of the brands that are heavily investing in ways to better use this technology. The gemstone industry is employing Blockchain technology to track a stone’s origin as well as to ensure transparency and value…
