What is a blockchain? If you don’t know, you should. When you do this, you’ll probably still need some explanation of how it works. The technology behind virtual currencies such as Bitcoin is known as a blockchain (a chain of blockchain). The blockchain can be thought of as an online and public registry. Each chain has its control mechanism, and the operations performed are not controlled by a central organization, but the chains can be connected to ensure full convergence between them.
“The blockchain is a first-ever distributed database with Bitcoin in which records are linked to each other by cryptographic elements. The records in this database are packaged as a block and linked with the hash values of the preceding blocks to protect against change. The best-known application of this distributed database idea is to create a money transfer and registry that can be maintained in a distributed manner for the cryptographic (or virtual currency). The data held in this way consists of a pile of records that are kept together with timestamps, similar to a bank’s income and expense book. Since there is no centralized management on Bitcoin, users can benefit from this platform without the need for a permission in peer-to-peer logic.” Working on a technology like Blockchain, which has already attracted everyone’s attention, can be a good venture idea. Always be alert and vigilant about new technologies, enabling you to capture great venture opportunities. It is of course at the discretion of your entrepreneurs to take advantage of such a great opportunity in a very active subject such as finance.