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Blockchain Industrial Strategy Concept.

A bit of background:

Blockchain is a new type of database. These databases are distributed across various computers acting as a decentralised ledger on a Peer to Peer Network. 

One of the main differences with Blockchain is trust.

Most databases accept that when a record is updated, there is no reason not to accept the update and so does. 

Blockchain requires that every record most be verified as the truth before it can updated. 

Benefits of Blockchain include:

  • Use of Smart Contracts to replace hard to enforce Legal Contracts.

  • Increased security

  • No need for trust

  • High Availability due to decentralisation

  • Faster Dealings and Cost Savings

  • Verifiable and Auditable

If Blockchain is something you are considering for your business, please get in touch using the Contact Us form. 

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