BlockChain In a Nutshell

More customers are asking about Blockchain.

What is it?

  • It is a shared ledger shared across different players in a business network. And it is an appended-only ledger system meaning that no one can remove any previous transactions recorded there to prevent fraud.
  • It can be made into a smart contract that automatically executes some agreed business terms upon certain pre-defined conditions are satisfied
  • It is the technology used behind the current popular digital currency Bitcoin and some new choices of digital currency like Ethereum
  • It is the technology that can eliminate certain roles of a central authority governing the information sharing and transactions among the parties involved in a network. Hence could be more efficient and transparent to every stakeholder involved.