This book aims to demystify blockchain technology and describe its impact on the way we do business and live our lives. Blockchain technology entered the world stage as the driver of the cryptocurrency phenomenon, representing only one of the countless applications for the technology. It has been misunderstood as synonymous with Bitcoin and other digital currencies. In the following, we will focus on Blockchain technology’s incredible business applications outside of finance.
Blockchain is a shared, immutable ledger that enables traceability and automation of transaction records and asset ownership monitoring. Assets can be tangible or intangible, such as real estate, machinery, land, copyrights, patents, branding, etc. Practically anything with real-world value may be monitored and traded with blockchain technology, lessening risk and reducing expenses for those included.
That is the elevator pitch for Blockchain technology. In this book, we’ll examine Blockchain basics to help you understand its applications, capabilities, and benefits in business operations.