Downloading: Blockchain Technology has the Ability to Change the Face of New Business
International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
www.ijsr.net | Open Access | Fully Refereed | Peer Reviewed International Journal

ISSN: 2319-7064



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Blockchain Technology has the Ability to Change the Face of New Business

Dr. Ravikumar, Omprathap Velu

Abstract: Block chain Technology first emerged as the system underpinning bit coin, it is also known as distributed ledger technology (DLT), a shared record of information that is maintained and updated by a network of computers rather than a central authority. It is protected and secured by advanced cryptography. At basic level block chain is a digital platform for recording and verifying transactions. User A wants to send money online to user B this transaction is called a block, this block is broadcasted across the transaction network for verification by Peers, the peer-verified blocked is added to an unbreakable, un-hack able chain of other verified block. This chain provides a transparent record of transactions, now that the transaction is verified and recorded, the money moves from user A to user B. This paper will help you understand the technology and visualize its business implication in the present &future.

Keywords: Block chain, Block, Bit coin, DLT and Cryptography



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