Block Chain and Competitive Business Performance

Abstract

Information Technology has played a  significant role in the evolution of financial markets in  recent decades, altering the way financial organizations  communicate with one another. However, when amazing  breakthroughs like as Blockchain mature, the sector's traditional processes and conventions may be completely  overhauled. The core of Blockchain is that it is a public,  shared, and meticulously structured ledger that enables  mutually unknown people and organizations to exchange  data in a secure ledger and conduct various transactions.  Cryptography and peer-to-peer network technologies have  been combined to create this groundbreaking  breakthrough. It is almost impervious to the bulk of today's  cyber-threats. Blockchain-based solutions have found their  way into a variety of sectors, including real estate, health  care, the media, and government agencies. This article will  describe how Blockchain works, what it is, its kinds,  applications, and use of blockchain in business. Future  scope of this result is that Blockchain is gaining traction  across a wide range of businesses, and blockchain  engineers and developers will be in high demand in all of  them. Blockchain is predicted to reach a $20 billion  business by 2024. As a result, Blockchain integration into  core operations is something that industries are ready to  do. Not only is distributed ledger technology, particularly  Blockchain, transforming the monetary industry, but it is  also making the financial system more transparent.