BLOCKCHAIN

TECHNOLOGY
A PRESENTATION BY:
SOURAV BISHT (PGP24251)
SHUBHENDRA SINGH (PGP24241)
VISHAL KUMAR SINGH (PGP24282)
SIDDHARTH SINGHAL (PGP24244)
SHUBHANSHI RANGAR (PGP24254)
 WHAT IS BLOCKCHAIN
HOW IT WORKS
Blockchain is a digital ledger that is distributed over peer-to-peer networks. It is a distributed database that
is shared between nodes of a network.

A blockchain is comprised of two main aspects:

• Block: a collection of information with a fixed storage capacity

• Chain: link between two blocks
Unlike a regular database, blockchain stores data into blocks which when filled gets timestamped and is
connected to previous block. These connected blocks form a chain of data which is copied into every node
of the network. New information can only be filled in a new block. This makes the chain immutable and
the timestamps make it impossible to tamper the data. Further, each node has its own copy of blockchain so
even if one succeeds in altering a block, the algorithm can easily detect it by comparing it with other chains
present in the network.

The data is also decentralized as it is available to the public. There is no need of third party arbiter to
maintain the transparency. Further, a single person or group cannot control the entire chain.
 CURRENT USES OF BLOCKCHAIN

Blockchain is being used in

various fields. Some of them are:

Immutable data Medical record

Cryptocurrency Smart Insurance Data sharing
backup storage keeping
 Maintaining Quality:

LINKING THE
Easier Audits: As every Data of every batch can be
event in the life of the stored into a blockchain. It
product can be recorded, will be easy to get
FUTURE OF it will make internal and
external audits easier.
information about the
number of quality checks

OPERATIONS TO the product went through.

Transparent
BLOCKCHAIN Supply chain
management: finding the
Transactions: all the
transaction made for the
real time data of the product will be stored and
package at every step of hence will leave a paper
delivery. trail for easy access later
on.