Blockchain can enhance transparency, traceability, and efficiency in various sectors from "summary" of Blockchain Technology Explained by Alan T. Norman
Blockchain technology has the potential to revolutionize various sectors by offering increased transparency, traceability, and efficiency. The decentralized and distributed nature of blockchain ensures that all transactions are recorded on a shared ledger that is accessible to all participants. This transparency eliminates the need for intermediaries and reduces the risk of fraud or manipulation. With blockchain, all parties involved in a transaction can verify the authenticity and integrity of the data, leading to increased trust and accountability. Furthermore, the immutability of blockchain ensures that once a transaction is recorded, it cannot be altered or deleted. This feature enhances traceability by providing a clear and unchangeable record of all transactions. This can be particularly beneficial in supply chain management, where tracking the origin a...
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