Blockchain

Blockchain is a shared, immutable ledger for recording transactions, tracking assets and building trust. Discover why businesses worldwide are adopting it.

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Blockchain success starts here

blockchain

Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.

Why blockchain is important: Business runs on information. The faster it’s received and the more accurate it is, the better. Blockchain is ideal for delivering that information because it provides immediate, shared and completely transparent information stored on an immutable ledger that can be accessed only by permission network members. A blockchain network can track orders, payments, accounts, production, and much more. And because members share a single view of the truth, you can see all details of a transaction end to end, giving you greater confidence, as well as new efficiencies and opportunities.

1

Greater trust

With blockchain, as a member of a members-only network, you can rest assured that you are receiving accurate and timely data and that your confidential blockchain records will be shared only with network members to whom you have specifically granted access.

2

Greater security

Consensus on data accuracy is required from all network members, and all validated transactions are immutable because they are recorded permanently. No one, not even a system administrator, can delete a transaction.

3

More efficiencies

With a distributed ledger that is shared among members of a network, time-wasting record reconciliations are eliminated. And to speed transactions, a set of rules — called a smart contract — can be stored on the blockchain and executed automatically.

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Types of blockchain networks

There are several ways to build a blockchain network. They can be public, private, permissioned, or built by a consortium.

  • Public blockchain networks
  • Private blockchain networks
  • Permissioned blockchain networks
  • Consortium blockchains
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Blockchain security

When building an enterprise blockchain application, it’s important to have a comprehensive security strategy that uses cybersecurity frameworks, assurance services and best practices to reduce risks against attacks and fraud.

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