What is the Use of Blockchain Technology?
Blockchain technology is a revolution when it comes to recording systems. Bitcoin is the world's first permanent, decentralized, global and insidious account book. Since its first appearance businessmen from industries around the world have realised the potential of this invention - the nature of blockchain technology allows it to be applied to any need for reliable recordings. It also puts the full power of cryptography in the hands of individuals, maintaining digital relationships without the need for consent of central authorities. This technology is referred to as ‘pull transactions’. Certainly, there is a lot of commotion resulting from how easy it is to come up with a high-level application of blockchain technology. This technology has been called 'magic bean' by several of the most outstanding minds in the industry. For more information on how to check whether the use of blockchain technology is appropriate or not see our article ‘Why is it Worth to Use Blockchain?’ For now, let's move to find out in what ways blockchain technology can be useful.