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Blockchain Catalyst For Massive Change Across Industries

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Blockchain: Catalyst for Massive Change Across Industries Bitcoin, the digital currency, uses the technique of blockchain to secure its asset. Blockchain has not only been used in the transaction of digital currency but also in other industries. It now act as a catalyst to protect and secure important data for industries. Research have shown that the idea of blockchain have been applied in many bank and financial services to increase their revenue. With the help of blockchain, we can replace the third-party mediators who normally works as the trust caretaker because blockchain are more secure and trustworthy. This paper examines Nash research on the advantage of blockchain, and how it can be used in different industries apart from financial industries. According to Piscini, Guastella, Rozman and Nassim, blockchain is a digital ledger that keeps the information of transactions. It records and share the data between the network communities (2016). Each member of the community should conserve the information because whenever the change or update is required all members of the community have to approve it. Therefore, no single member of the community can change data without the approval of all …show more content…

It work better than insurance company because it protects your goods and track them by using cryptography. It is more reliable than insurance company because it never closes like other insurance companies (Nash, 2016). It will always provide you details on your goods. It offers you the authority to change or update the information. However, if it is used as a group then every indivial habe to agree to make changes on it. This technique is a cool technique that is now widely used in all industries. The use of this technology is increasing day by day as industries and business companies are seeking more towards the use of this technology. Therefore, it is regarded as a catalyst for bringing changes in

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