So what Exactly is Block chain, if I would like to describe it in plain simple words… so here it is what I would say…
BLOCK CHAIN IS A SHARED LEDGER WHICH HAS ATTRIBUTES TO RECORD ANY TRANSACTION ON ITS LEDGER, WHICH CANNOT BE EDITED !!!
Virtually anything of value can be tracked and traded on a block chain network, reducing risk and cutting costs for all involved .
BIGGEST BENEFIT IN TODAY’S PAPER SAVING ECO SYSTEM IS, Blockchain makes it better. ITS A PAPERLESS APPLICATION WHEN IT COMES TO account keeping.
Single shared ledger that is tamperevident. Once recorded, transactions cannot be altered.
All parties must give consensus before a new transaction is added to the network.
Eliminates or reduces paper processes, speeding up transaction times and increasing efficiencies.