BLOCKCHAIN

A New Era of Data Management

Blockchain technology is an innovative and decentralized type of database designed in such a way that makes it virtually impossible to alter or hack the information recorded in it.

First used in the launching of Bitcoin in January 2009, Blockchain has since gone way beyond its original application, helping companies across a wide variety of industries tackle trust and security issues while improving data management efficiency.

Discover why more and more companies around the world are adopting this record-keeping technology.  

How

it works

Blockchain technology allows information to be stored securely, helping companies make data management more trustworthy, transparent, and efficient. 

Information is stored in blocks or chunks of data, each of which holds a limited storage capacity.

Once the full capacity of a block has been filled, it is chained to a previously filled block.

When a block is added to the chain, it receives an individual and immutable timestamp.

Multiple copies of the database can be made across an entire network of computer systems, allowing all users to track every block of data.

All data is recorded chronologically and holds an indelible encrypted signature that cannot be altered.

Benefits of

Blockchain

+ Transparency

Every action within the blockchain remains visible for all users at any time.

+ Security

Immutable timestamps and decentralization ensure Blockchain is practically invulnerable to hacking.

+ Efficiency

Makes registering data simpler and faster, allowing companies to save both time and money.

+ Automation

Events and payments can be programmed to trigger automatically when specific criteria are met.

Blockchain

Technology
Applications

01
01
Cryptocurrencies

The first and probably still most renowned use for Blockchain has been storing cryptocurrencies’ history. Every transaction across the network receives a location that remains irreversible. All users hold their own copy of the Blockchain, thus ensuring total transparency for cryptocurrency exchanges.

02
02
Smart contracts

These are transaction protocols built into a blockchain to verify or negotiate a contract or agreement between parties. They operate under a set of conditions previously agreed by the users, and they can automatically execute when these conditions are met. This allows contract processing to be performed faster and with reduced costs.

03
03
Media Industry

Since Blockchain can prevent digital assets from existing in multiple locations at the same time, it has brought a much-needed solution for the media industry to tackle issues of intellectual property infringement and piracy.


04
04
Government

Potential applications for government purposes are only starting to be discovered. Preventing money laundering, improving bureaucratic efficiency, enhancing electoral transparency, or increasing security of data archiving are only some of the uses of Blockchain that governments from different countries are beginning to explore.

05
05
Supply chains

Blockchain offers the shipping industry the possibility of keeping track of each step of a product’s journey from its origin to its final destination. When an unexpected event in a supply chain occurs, the root of the problem can be easily identified, thus helping companies solve logistics issues much more efficiently.

06
06
Healthcare providers

Using Blockchain to store medical records can offer patients confidence by preventing the threat of alterations or unwanted access. A private key can be used so that the records remain accessible only to a limited group of individuals.

07
07
Non-Fungible Tokens

2021 has seen the meteoric rise of NFTs. Blockchain allows these digital items to be purchased and owned by single users, who can claim sole ownership for them. NFTs are changing consumer relationships across arts, sports, and other cultural markets, and the consequences of their rise are yet to be seen.

08
08
Banks

Transactions, funds exchange, and stock trading can all be performed considerably faster using blockchain-based applications. This could result in huge savings both for customers and banks


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