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What is blockchain and what does it mean for US?

Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding).Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for ...

What can only be achieved with blockchain?

The solution is to have one digital identity associated with a person. It can be achieved with the help of blockchain where a person has only one identity in the whole network. There are many benefits of using digital identity, including no need to carry documents.

What is blockchain technology and how does it work?

How does blockchain technology work? Blockchain is a distributed, peer-to-peer transaction ledger. It is not owned or managed by a single central entity; rather, it is owned and governed by the individuals who use the network. The blockchain network leverages the nodes in the network to authenticate transactions.

What is the purpose of the blockchain?

What Is the Purpose of a Blockchain? A blockchain (from block-chain or a chain of blocks) serves as an anonymous digital ledger to simplify transactions. Users can manipulate the ledger securely without the intervention of a third party such as a bank or legal representative.

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