NDLI: Blockchain Technology and Its Emerging Applications

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Blockchain Technology and Its Emerging Applications

Content Provider	Scilit
Author	Rahimi, N. Roy, I. Gupta, B. Bhandari, P. Debnath, N. C.
Copyright Year	2021
Description	This chapter describes blockchain technology by introducing what this technology is, the history behind it, and various applications of this approach in financial and nonfinancial sectors. Several key features of using this technology are explained, with the “how” and “why” behind the technology, which is having a big impact in the digital world. Finally, this chapter provides real-world examples that utilize this method. Blockchain technology has reached the height of popularity with the advancement of Bitcoin and other digital currencies; but there are various other sectors where it could also be used. Blockchain is a combination of files that are the same on many computers and software that writes and verifies the files. Depending on the technology being used, a file contains various kinds of information, with a stamp that verifies the information. Each transaction is verified by a majority of the parties involved, and once entered, information can never be erased. Since a majority of the people or computers need to verify a transaction, there is much less chance of this technology being hacked. In other words, blockchain is much more secure than other storage systems. No one oversees this technology, and the transactions processed in it are very transparent. Book Name: Blockchain Technology for Data Privacy Management
Related Links	https://content.taylorfrancis.com/books/download?dac=C2020-0-20176-9&isbn=9781003133391&doi=10.1201/9781003133391-7&format=pdf
Ending Page	157
Page Count	25
Starting Page	133
DOI	10.1201/9781003133391-7
Language	English
Publisher	Informa UK Limited
Publisher Date	2021-02-17
Access Restriction	Open
Subject Keyword	Book Name: Blockchain Technology for Data Privacy Management Information Systems Files Digital Blockchain Technology Transaction Chapter Various Verifies Technology By Introducing
Content Type	Text
Resource Type	Chapter

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