Industry Analysis
Blockchain Technology
Blockchain is a developing technology, supporting decentralized and encrypted transactions which offer a secure, verifiable, and permanent way of processing and storing records without the need for a centralized intermediary. Blockchain technology, through the use of increasingly sophisticated “Smart Contracts”, has a wide range of utility including processing transactions, accounting, stock transfer, stock trading, legal documents verification, and proof of ownership across a far-reaching spectrum of applications and businesses.
BlackStar’s focus and potential entry into digital equity trading is ground-breaking for the company future with blockchain related interest looking to develop reliable and secure peer-to-peer transactions.
Blockchain for fraud prevention: Industry use cases - Blockchain Unleashed: IBM Blockchain Blog
July 12, 2017 | Written by: Ross Mauri
General Manager, z Systems - IBM Systems
Categorized: Blockchain in Financial Services | High Security Business Network | Identity Management
Fraud — and the lack of transparency that enables it — is a growing problem for businesses around the world. In a list published on Risk.net, fraud ranked as one of the top 10 operational risks of 2017. But a cutting-edge technology called blockchain could provide the fraud prevention capabilities these businesses are looking for.
Blockchain is a shared ledger that is decentralized and resistant to tampering. It allows verified contributors to store, view and share digital information in a security-rich environment, which helps to foster trust, accountability and transparency in business relationships. Seeking to capitalize on these benefits, companies have been exploring ways to use blockchain technology to prevent fraud in industries such as finance, identity management and supply chain.
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