Blockchain is an emerging technology that transforms the way we trust. Although young it is expanding rapidly due to the benefits it offers.
In simple terms, a blockchain functions as database that maintains an immutable distributed ledger shared across all participants in the network, with records that can be inspected openly.
Blockchain is an exchange network for monitoring transactions, value and assets between peers. This is achieved by securely storing information and keeping them immutable and traceable. It eliminates the need for assistance or interference by intermediaries and validates transactions by replacing previously “trusted entities”. The end result is a secure and transparent network of participants that can freely share information in the most transparent way.