BLOCKCHAIN

Bitcoin is currently the most visible use of blockchain, it can be used the same way as any other distributed database. In 2016, the online retail company Overstock.com used blockchain to sell and distributed more than 126,000 company shares, marking the first time a publicly traded company used blockchain to support stock transactions. R3, a global consortium of financial institutions, also uses blockchain to record, manage and synchronize financial information using blockchain APIs for specific platforms. Banks and financial institutions across the globe are exploring how they can use blockchain to improve security. Other industries, including healthcare, government and technology, are investigating how they can use blockchain to enable secure exchange of data such as personal health information, digital assets like downloaded entertainment and real estate deeds. Manufacturing and other similar businesses also see the potential to leverage blockchain to manage smart contracts as well as track materials as they move through their supply chains.

If I write about advantages and disadvantages of blockchain experts cite several key benefits to using blockchain. Security is considered one of the major advantages with this technology. It is almost impossible to corrupt a blockchain because information is shared and continually reconciled by thousands, even millions of computers, and blockchain has no single point of failure. If one node goes down, it’s not a problem because all the other nodes have a copy of the ledger. 

On the other hand, experts say blockchain also has potential drawbacks, risks and challenges. With public blockchains, there are questions about trust and who is responsible should a problem arise. With private blockchains, there are questions about whether organizations are capable or willing to invest in the infrastructure for IT chargeback, an accounting strategy that would apply the costs of IT services, like database transactions, to the business unit in which they are used.

Finally I would say this is the future just like IOT, Robotics and Artificial inelegance...!!!