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A SNEAK PEAK ON – BLOCKCHAIN TECHNOLOGY
CIO Review
|April 2021
Let’s begin this conversation by focusing on the fundamental aspect, i.e. by ‘Defining Blockchain.’
“Blockchain is a shared ledger technology that allows participants in the business network to transact assets; wherein everyone has control, but no one is in control.”
Being a truly ingenious invention, blockchain has the capability to change the fundamentals of business processes. The technology can help streamline business processes and reduce the resistance between people involved in the exchange of information. Blockchain uses a validated, shared ledger to guarantee the quality and origin of information and smart contracts to execute business agreements automatically.
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