Blockchain is the technology in which a group of distributed computer systems can compute the authenticity of transactions in a decentralized system. Blockchain is currency related implementation like bitcoins. Blockchain technology is taking place in every big business across the world. It is an inauguration across a lot of different business; like industries and technologies. Big businesses are thinking to implementing blockchain technology because it is a secure way for the transactions. Blockchain technology keeps the ledger about the transactions from buyer and seller. It is used to compute the transaction in a secure way. Now a day’s software is use for computing solutions but many businesses is thinking to implementing blockchain technology for systemic solutions. Crypto currencies are one of this type of solutions. Blockchain technology will give businesses to maintain data easily in a secure system. Businesses can use crypto currencies for their transactions.
Many of the big businesses thinking of implementing blockchain technology for their own benefits and to give their customers a relaxation. Customers will able to buy products in low rates and this all will monitored by blockchain technology. This blockchain technology will help them to have all the transactions. It’s basically all about decentralizing trust. With this technology there will be no need of software’s and the management system because this all will be done by the blockchain technology. They use crypto currencies like bitcoins and Ethereum for their transactions.
There are many applications of this blockchain technology. This can be used to have confidential files, to contract engagements and to manage files. There will be no need of having manual data about transactions. Digital currencies are taking place in the world. By the help of this technology companies have no need of management department and IT department. They just need a blockchain technology. All the concerned data can be fetched by the blockchain technology. Many companies are using this technology. In this modern era many people are using crypto currencies and they will be able to buy anything without the middleman who have their own profit margin.
Pharmaceutical, textile and other industries are trying to implementing blockchain technology for its own benefit and also for the customers. Insurance industries, real estate industries are also thinking of implementing this. By this every transaction will be under decentralize system and based on trust. They need a strong system for this type of transactions.
Maersk is using this technology for testing. They are using this technology to track shipments and to coordinate with their customers. Airbus is also thinking to implement this technology to monitor the many parts that all comes together to make a plane. Microsoft and a United nation group are collaborating to build a blockchain for a digital identity with the help of this technology. This will be useful for the refugees who lack the social documents. Walmart is also trying to implement this and by doing this they will be able to track the shipping history in just a second. Without blockchain technology this process takes almost 7 days. So, everyone is trying to implement this technology for the betterment of their business.
