Blockchain the Technology of the Future?

Blockchain is a ledger technology that operates in a decentralized and transparent manner. Any data entered into the Blockchain is public, immutable and interconnected.

Like a ledger, accounting and immutable, or your grandma’s notebook, however all information entered in it does not change and with each creation of a new transaction block, the previous information is automatically inserted.

The information entered into it is encrypted – and that is precisely what guarantees security.

Blockchain far beyond Bitcoin

Many people believe that Blockchain technology and Bitcoin cryptocurrency are the same thing. However, a blockchain is the technology behind the Bitcoin network, recording and validating transactions.

Launched in 2008, Bitcoin was the first practical use of blockchain technology. This allowed the concepts to spread.

Over time, other cryptocurrencies emerged and gained a lot of visibility, but it is important to remember that the blockchain makes it possible to carry out activities that go beyond the financial market.

Blockchain in everyday life

Among the many applications of blockchain, which go beyond financial systems, for example”

Combating fraud and corruption: with the traceability and transparency system, technology can be very useful as a system for recording government activities.

Supply Chain: contributing to the tracking of goods, companies can use the blockchain to monitor the traceability of products, throughout the process that starts from manufacturing and goes to the consumer.

Medical and health records: blockchain technology offers data security, the possibility of sharing the patient’s history with the doctor of interest and, also, given the immutability of information, makes it possible for the immutable record of diagnoses, certificates – which makes it easier to identify errors and possible oversights.

These are just some of the uses of blockchain technology.

Did you already know Blockchain Technology?

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