Usually associated with cryptocurrency transactions, blockchain has a wealth of potential for many business activities, particularly in building trust. So why aren’t firms adopting it more?
Blockchain technology has been around for more than a decade and is a distributed database or ledger that is shared among the nodes of a computer network. One key difference between a typical database and a blockchain is how the data is structured. A blockchain collects information together in blocks that hold sets of information. Blocks have certain storage capacities and, when filled, are closed and linked to the previous block, forming a chain of data known as the blockchain. All new information that follows that freshly added block is compiled into a newly formed block that will then also be added to the chain once filled. This data structure inherently makes an irreversible timeline of data when implemented in a decentralised nature.
Initially connected exclusively to facilitating Bitcoin...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...