Bitcoin and other virtual currencies are made possible by what’s known as blockchain technology. Blockchain is essentially a global public ledger capable of automatically recording and verifying a high volume of digital transactions, regardless of location.
Bitcoin’s popularity is proving blockchain’s usefulness in finance, but entrepreneurs have come to believe blockchain could transform many more industries. Ultimately, the use cases for a transparent, verifiable register of transaction data are practically endless — especially since blockchain operates through a decentralized platform requiring no central supervision, making it resistant to fraud.
Source - Read More at: www.cbinsights.com
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