The document discusses the history and development of a new technology called blockchain. It explains that blockchain was originally developed for cryptocurrencies like Bitcoin, allowing digital transactions to be recorded and verified in a decentralized manner without an intermediary. However, blockchain is now being applied to other areas as its capabilities are recognized, such as for tracking supply chains, digital identification, and smart contracts. The technology provides benefits like improved security, transparency and auditability compared to traditional record-keeping systems.
The document discusses the history and development of a new technology called blockchain. It explains that blockchain was originally developed for cryptocurrencies like Bitcoin, allowing digital transactions to be recorded and verified in a decentralized manner without an intermediary. However, blockchain is now being applied to other areas as its capabilities are recognized, such as for tracking supply chains, digital identification, and smart contracts. The technology provides benefits like improved security, transparency and auditability compared to traditional record-keeping systems.
The document discusses the history and development of a new technology called blockchain. It explains that blockchain was originally developed for cryptocurrencies like Bitcoin, allowing digital transactions to be recorded and verified in a decentralized manner without an intermediary. However, blockchain is now being applied to other areas as its capabilities are recognized, such as for tracking supply chains, digital identification, and smart contracts. The technology provides benefits like improved security, transparency and auditability compared to traditional record-keeping systems.