What Is Blockchain?
Blockchain Technology works with blocks, each containing a collection of data, whereas spreadsheets work with “rows” and “columns”. A Blockchain is a distributed ledger, which simply means that a ledger is spread across a network among all peers in the network, and each peer holds a copy of the complete ledger.
We all conduct our lives increasingly online — online banking, shopping, apps, social media, and online services. The execution of core functions of governments and economies are also increasingly on the internet. Most of us now have some sort of digital presence and all our online activities require the sending of information back and forth.
Blockchain is expected to impact the way payments, transactions and record keeping are handled in the future, and affect various other aspects of our daily lives, as well as the way that large organisations, financial institutions, and governments are run.
Transactions are at the heart of any blockchain in that an interaction with the blockchain involves the execution of transactions. The blockchain decentralised ledger keeps a record of all verified transactions and the transactions are organised into chunks of data called “blocks” that are irreversibly linked to one another — forming a “block chain”.
We can help guide your business on the benefits of Blockchain within your industry. Advice on the best Blockchain to use and assist with the scoping, development and support of your Blockchain solution.