How Blockchain Technology Will Affect Business Platforms blockchain | Page 2

Abstract Introduction
Never in market there was this Every new development in the field of technology creates
much hype surrounding a subject disruption making the past technological standards obsolete
that people hardly know much and those who still use it, is just for the nostalgia (Bodkin,
about. Even though more than 1.4 2005) factor or lack of platform alternatives (Warren, 2015).
billion dollar of venture capital
has
been
already
invested
in
blockchain technology according to
Blockchain,
that
will
is
an
online
change
how
record-keeping
we
conduct
innovation
business
a 2016 article published on World It is a mutual, trusted, public record of exchanges,
Economic Forum (Mcwaters, 2016) that
and there is still more to learn. client controls it. It is also crypto-graphed, secure,
This white paper focus on background
and
everybody
tamper
can
resistant
investigate
that
however
cannot
be
no
single
re-circulated.
study of blockchain, its potential It takes care of a complex numerical algorithm to exist.
application on case by case basis and A blockchain is the ideal place to store, identification, contracts,
how can it transform the way we do property rights, certifications, and so forth. When you put
business today. Its outcomes and something like a bitcoin into it, it will remain there until the
implications on existing industries end of time. It is decentralized, cost effective and anonymous.
have
also
been
discussed
and
how will it change the paradigm
of
the
future
tech
landscape.
Furthermore, that is the founding principle of Blockchain
that it is a recordkeeping framework that monitors any kind of
exchange between two parties, yet the records themselves are
disseminated over any invested party that approaches those.