According to Gartner , Blockchain by the year 2030 will generate a business value worth $ 3.1 trillion!
1. Blockchain is a form of database or a distributed ledger shared across a public or private network. Each of the nodes in this network holds a copy of the record. So there is no chance of failure.
2. Each piece of information in a blockchain is encrypted mathematically encrypted and each time information is added will be added as a new block to the chain of historical records. This prevents fraud and double-spending.
3. Bitcoin is a single example of a blockchain application but there is a number of benefits that businesses are already leveraging using this revolutionary technology.