In a digital post-pandemic world, Blockchain technology plays an increasingly pivotal role in digital innovation by providing a secure and transparent way to store and transfer data without intermediaries.

Defined as a shared ledger that enables the process of recording transactions and tracking assets within a network, Blockchain stores information in “blocks” linked together in a chain, using data encryption logic. The chain is then verified within a highly secure environment, making unauthorized tampering or modification virtually impossible.

Blockchain innovation can help businesses improve efficiency, reduce costs, and enable new business models. Additionally, Blockchain’s backbone establishes security and transparency in storing and transforming data, which helps establish trust across the business value chain. Transactions can be securely recorded and verified with involvement from middle parties such as banks or the government. The transparency of Blockchain can help significantly reduce fraud and improve customer confidence.