Blockchain is a technology that is very difficult to change the processes were made and each process has an ownership record. It keeps a record of what the transactions own, with high security and keeps a record of information that is difficult to capture.
Due to the changing the information saved on a blockchain is very hard, it is important to know exactly where and how to make the processes. In a blockchain, a process is directly sealed after it is sent, the process of returning the records is extremely difficult.
Since nothing saved on a blockchain can be changed, it is important that you know exactly where and how to transaction. In a blockchain, after a transaction is sent, it is directly sealed and the record cannot be taken back.
Why Is Blockchain Important?
Transparency: In the blockchain, all participants can view all the information but they cannot change it alone. With this feature, it increases reliability and reduces risk and fraud.
Cost: Blockchain transactions do not require tools, so processes can be made more efficient and cheaper. Since there is no need for auditors or lawyers to verify the authenticity of the information, costs like this arise from the processes.
Productivity: Less human factors means faster transaction turnarounds. Transactions that can take days for a lot of signature needs, result in seconds.
Data Privacy: The data to be processed is first verified and included in the blockchain through the community process. In this process, data is converted into a series of letters and numbers with mixed codes. Participants who want to access this information must have a key. If they do not have a key, the information is definitely not available.
In Which Areas Is Blockchain Used?
Bitcoin: One of the best examples is Bitcoin. It is called a digital currency (also called a cryptocurrency).
This application is a completely electronic fund format. It provides a secure transfer from user to user without the need for intermediaries. Transactions are carried out without the need for a central bank or a manager.
Loyyal: It is an application that explores how customer incentives are created, rewarded and managed.
It is a kind of cross-industry loyalty and reward platform. It is based on blockchain and smart contract technology.
Basf: It was desired to use blockchain technology to record and analyze sustainability in livestock by integrating every part of the process, from the farm to the refrigerator, to the finest detail. The information is intended to create an environmental footprint with full transparency and traceability throughout the whole chain.
Ubiquity: Blockchain technology has been used to keep records in the real estate field. Property information combined with the reliability of the blockchain provides a user-friendly experience with a clean ownership record.
