Column: The impact of blockchain technology

The word “blockchain” is commonly associated with bitcoin, but blockchain technology has many potential applications. Understanding what blockchain is and how it may be used will become increasingly important for businesses going forward.

To understand blockchain, it is important to be reminded of how data is ordinarily stored. In most transactions today, each party keeps his or her own set of records along with, possibly, a third-party intermediary. For example, if a customer purchases a product with a credit card, both the customer and the store will maintain their own records of the purchase/sale and a credit card company, which facilitates the transaction, maintains its own records concerning the purchase/sale.

View entire article here.

0 views

Recent Posts

See All

© Law Exchange International 2020

Web Design by

Web and Graphic Design near Grand Rapids

Contact

David Lindgren

secretary@lawexchange.org

Shakespeare House

42 Newmarket Road

Cambridge CB5 8EP

England

Connect with LEI

  • White Facebook Icon
  • White Twitter Icon
  • White LinkedIn Icon

Add on Facebook

Add on Twitter

Add on LinkedIn