Blockchain is a decentralized digital ledger that records transactions across multiple computers, ensuring that the data cannot be altered retroactively. Each “block” contains a record of a transaction, and these blocks are linked together in a chain, hence the name “blockchain.” This technology is most commonly associated with cryptocurrencies like Bitcoin, but its applications extend far beyond digital currencies.

Blockchain offers several advantages, including transparency, security, and the ability to operate without a central authority. These features make blockchain an attractive option for industries that require secure and transparent record-keeping, such as finance, healthcare, and supply chain management.

Blockchain’s Impact on Various Industries

Blockchain has the potential to disrupt a wide range of industries. In finance, blockchain enables faster and more secure transactions, reducing the need for intermediaries like banks. In supply chain management, blockchain can improve transparency by allowing companies to track products from production to delivery.

In healthcare, blockchain is being used to securely store patient records and ensure that they are accessible only to authorized individuals. As blockchain technology continues to mature, it is expected to play an even larger role in shaping the digital landscape.