Touted for its security and recordkeeping, blockchain is picking up steam in the public sector.
There are enough new technologies today that it can be hard to keep up with all of them. One technology that is leaving a lasting mark is blockchain. The technology behind the ever-popular cryptocurrency Bitcoin (and every other cryptocurrency), is quickly becoming a household name. Here is a brief look into blockchain technology, how it works, and what kind of innovations businesses can use to make it work for them.
Ways of Blockchain Technology
The decentralized framework of a blockchain provides organizations.
Each transaction is reliably stored so that both parties have transparent access
The decentralized framework of a blockchain provides oA blockchain-based token system can provide organizations of all sizes .rganizations.
Setting up a token-based system, you can streamline access.
Blockchain-based payment constructs have the potential to process error-less.
Ccould conceivably store this information on the blockchain, removing any doubt.
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The Blockchain-Enabled SSI Solution
The recent advent of distributed ledger technology (DLT) known as blockchain, however, has now made possible a means of immutably binding an entity to its digital representation at scale — securely and cost effectively via a shared ledger.
This ledger-based identity binding is called self-sovereign identity because no third-party certification authorities are required to certify, issue and bind entities to their immutable digital identity.
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