What is blockchain technology? A Blockchain, originally blockchain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography. A blockchain is thus sometimes referred to as a “distributedledger”.
Usually contains financialtransactions. • Is replicated across a number of systems in almost real-time. • Usually exists over a peer-to-peer network. • Uses cryptography and digitalsignatures to prove identity, authenticity and enforce read/write access rights. • Can be read and written by certain participants. • Hard to change historical records.
Blockchain underpins Bitcoin . . . • is unregulated, censorship-resistant shadow currency. • Blockchain ensures “cash like” coin passing • unique, • immutable, • final. • is the first Blockchain application. • Blockchain is not . • Digital currencies different from cryptocurrency.
Why Blockchain ? • Broader participation, low cost, increase efficiency. • Blockchain for Businesses. • Sharedledger • Smartcontracts • Privacy • Validation
Benefits of blockchain ? • Industrial Blockchain Benefits. • Patterns for Customer Adoption • Internal ledger • Information hub • High value market
Benefits of blockchain ? • Use cases : • Corporate Debt (or Bond), • Business to Business Contracts, • Smart Refrigerator, • Open & Trusted Supply Chain, • Aircraft Maintenance, • On Line Gaming, • Securities, Retail Banking, Public Records, Trade Finance, Syndicated Loans, Intra-bank settlement.
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