Blockchain technology has been making headlines since its inception in 2008 as the underlying technology for the Bitcoin cryptocurrency. However, the concept of blockchain is much broader than cryptocurrency, and it has the potential to revolutionize industries far beyond the financial sector. Despite its growing popularity, many people still have difficulty understanding what blockchain is and how it works. This e-book aims to provide a simple explanation of blockchain, without technical jargon or complexity, so that everyone can understand.
At its core, a blockchain is a digital ledger that records transactions and stores data in a secure and decentralized manner. This makes it nearly impossible to alter or tamper with information stored on the blockchain, creating a level of trust and transparency that traditional systems cannot match. The potential applications of blockchain are vast, from digital identity to supply chain management to voting systems.
The author Sankar Srinivasan is Certified market professional of national stock exchange of India.
