Those unfamiliar with blockchain may be quick to assume that its uses are focused on financial services. However, this is only a single application of how the technology can help accelerate traditional business practices. Among other examples are the safe storage and transfer of records in the medical industry, providing transparency to records in the food supply chain and accelerated processing in the insurance industry, to name a few.
These uses are possible due to the blockchain being set up as a distributed ledger that is connected by many nodes. Since each node stores a copy of this ledger, the blockchain can guarantee the authenticity of any information sent. It also provides benefits such as a reduction in costs due to the elimination
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