Articles
Business transformation
What is blockchain Technologies ?
The world has come to realize the immense potential of Blockchain which is making its presence felt in Banking, Finance, Healthcare, Supply-chain, Legal, and several other industries. By 2030, Blockchain would have added $3.1 Tn business value. The adoption rate of blockchain technology across organizations, irrespective of the size or scale of operation is growing exponentially. However, there has been an acute shortage of ready-to-be-deployed professionals who can contribute to growth in these sectors.
Blockchain, which began to emerge as a real-world tech option in 2016 and 2017, is poised to change IT in much the same way open-source software did a quarter century ago. And in the same way Linux took more than a decade to become a cornerstone in modern application development, Blockchain will likely take years to become a lower cost, more efficient way to share information and data between open and private business networks.
First and foremost, blockchain is a public electronic ledger built around a P2P system that can be openly shared among disparate users to create an unchangeable record of transactions, each time-stamped and linked to the previous one. Every time a set of transactions is added, that data becomes another block in the chain (hence, the name).