2020 has proven that indisputable facts are becoming more and more important in the coming decade. Blockchain means that data is stored in ”blocks” of information and linked together in a permanent “chain.” When a new block is added to the chain, the previous blocks are becoming harder and harder to modify. Each block becomes more and more secure over time. The result: the most secure method of storing, authenticating, and protecting data while creating visibility and transparency. This technology will revolutionize many aspects of your business. It will create trust in  transactions but will also enable consumers to evaluate for example carbon emissions of products and companies.

Blockchain technology enables the creation of a distributed ledger, or database, that is open to all parties and secure from tampering or revision. It can be shared across a network of computers. The information stored on the blockchain exists as shared and secured “blocks” that are linked together and secured using cryptography. Because the blockchain database isn’t stored in any single location, it’s considered decentralized. The information within the blockchain can only be altered by using a “key” that’s held by someone on the network. This is what allows the data on the blockchain to remain secure and immutable. A blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating.

Blockchain is a type of distributed ledger technology (DLT), a database running on multiple computers connected to each other. It is a peer-to-peer network and users can access it from anywhere. The network timestamps transactions, which are grouped in blocks. Each block is linked to a previous one, hence the name blockchain. By design, blockchains are inherently resistant to modification of the data. A blockchain can serve as an open, distributed ledger that records transactions between two parties efficiently and in a verifiable and permanent way.

Blockchains are able to solve some of the most pressing problems in the world like data privacy, liability in transactions, and security. In addition, Blockchain has played an important role in addressing issues related to fraud and identity theft.