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Blockchain: A deeper look into a new and alluring technology
There's no escaping the word "blockchain" these days, a buzzword increasingly present in conversations and writer-ups seemingly everywhere. But is the hype justified?
Blockchain is what is known as a distributed digital ledger technology. Using cryptography and timestamps, blockchain provides a permanent record of transactions and interaction. The distributed form through which blockchain records, maintains, and tracks transactions eliminates the need for intermediaries during payment. And secure by design, blockchain data and information is fundamentally resistant to manipulation or modification. In this way, blockchain helps to reduce risk and cut down costs for everyone involved, in a manner that is also protected and permanent.
Blockchain penetration is most evident in the financial services industry, with payments-related solutions as early adopters. However, blockchain also carries significant implications for other vertical industries.
A new and complimentary eBook on blockchain is now available from IHS Markit that provides a comprehensive overview of the technology: how it works, why it could upend traditional ways of doing business, and what its challenges are.
The eBook also examines how blockchain could affect specific vertical industries, including transportation and logistics, identity protection, telecommunications, and semiconductors.
IHS Markit Technology Expert
Posted 13 June 2018
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