A Blockchain technology, changing life and business rapidly around the world. There was a need to change a centralized govern environment and creating a true democratic system where information doesn't control by any entity / government or individual. Bringing transparency and accuracy in true digital world. Information is publicly available to all, reducing dependability and bringing efficiency and accuracy. The blockchain was designed so that the transactions are immutable, meaning they cannot be deleted. The blocks are added through cryptography, ensuring that they remain meddle-proof: The data can be distributed, but not copied.
The blockchain is a distributed database system, serving as an open electronic ledger, a blockchain can simplify business operations for all parties. For these reasons, the technology is attracting not only financial institutions and stock exchanges, but many others in the fields of music, diamonds, insurance, and Internet of Things (IOT) devices. While banks were initially hesitant to explore these technologies because of their concerns about potential fraud, they have started looking into how the blockchain might provide generous cost savings by allowing back-office settlement systems to process trades, transfers and other transactions much faster.
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