Bockchain & Data Analytics
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).
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 permissioned network members.
Distributed ledger technology
All network participants have access to the distributed ledger. With this shared ledger, transactions are recorded only once, eliminating the duplication of effortof traditional business networks.
Immutable records
No participant can change or tamper with a transaction after it’s been recorded . If a transaction record includes an error, a new transaction must be added to reverse the error, and both transactions are then visible.
Smart contracts
To speed transactions, a set of rules called a smart contractis stored and executed automatically. A smart contract can define conditions for corporate bond transfers, include terms for travel insurance to be paid and much more.