Blockchain: the technology that everyone talks about and few know

> Learn about the new technology that businesses are using

Very much in vogue now, Blockchain technology has arrived and has settled in the business world. But do you really know what it is, how it works and why it is relevant? In the following note, we are going to explain why this technology is changing the way in which the most important businesses in the world are structured and why it is important to keep up with it.

Blockchain could be defined as a structure that allows data to be stored in a way that is almost impossible to falsify. Unlike an encryption system, Blockchain is presented as a public electronic ledger that can be shared with other users, generating an invariable record of transactions. These transactions or intangibles can range from intellectual property documents, patents, copyrights, trademarks...basically, anything of value that can be marketed.

Now, how does this technology work? First: each transaction is saved as a “block” of data (hence the name “blockchain”) that shows the movement of an asset. Such a block of data records any information you want: who, what, when, where, how much, and even the condition, like the temperature of a shipment of food.

Each block is connected to the block before and to the block after it, as appropriate. Thus, a data chain is generated that concentrates the information about an asset: from where to where it moves, when it changes ownership, etc. Each block is uniquely connected to prevent tampering. This connection of blocks reinforces the verification of each one and makes it proof of violations; This feature is what makes this technology so attractive: its inalterability. And, therefore, it makes it a highly reliable system.

1 > One data blockchain to rule them all

In our day to day, information is essential: we use data even in the most mundane tasks. Businesses are no exception, in fact, their greatest value is information. The faster, safer and more accurate the information is obtained, the more value it will generate for the business. In this sense, Blockchain technology comes to meet a vital need and generate an advantage for those who quickly incorporate it into their processes.

A network created through Blockchain can track orders, payments, accounts, production details and much more regardless of countries, times or other protocols. This possibility generates an unmatched advantage and opens up a range of possibilities for companies to expand their operations.

2 > The crypto world that is coming

Blockchain is just a part of something that has been talked about in the digital and technology world: web 3.0. Implying? It implies overcoming intermediaries and a democratization of procedures that today are centralized by a few large companies that still maintain a business model based on advertisements and publicity. On the contrary, the new web 3.0. puts this into discussion with proposals for open protocols, user-generated content, and a token economy. In other words, forms of encryption that do not depend on the giants of the digital world and that allow the exchange of sensitive information without the intermediation of third parties.

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