Blockchain is an emerging technology. It is going to dominate innovation across many businesses in the coming years. It is the same technology which has been used to design cryptocurrency.
It is still nascent in terms of knowledge or skill set availability for implementation.
Whenever there is the need for some kind of collaboration or work is distributed across multiple entities, many organizations or entities are involved in updating or authenticity of the database/information, blockchain can be your go-to technology. In today’s globalized world there is the essence of continuous information exchange, collaboration. Blockchain can be a solution for this global world.
Blockchain as the word specifies it is a combination of blocks connected with linking or chain. Each block communicates with other nodes or blocks in a secure manner. Each update is informed to other node or block so that information across all nodes is in synced and stable.