Blockchain

Its simply a growing list of records called blocks that are linked using cryptography. Each data transaction are contained in these blocks and being in huge in number minimize the risk of data security.

PURPOSE & BENEIFITS
  • Create transparency as data is shared and approved by people in the centralized network.
  • Reduce risk of fraud and creates trust in the transactions.
  • Almost impossible to hack or steal data, so it is a great tool for cyber security. Can be used in land record by providing smart contracts. Used by banks, insurance companies create a secured network of transactions.