«Not long ago, blockchain technology captured the imagination — and the wallets — of financial services firms that sought a “first-mover” advantage by integrating it into their outdated management systems. Experts predicted that blockchain could bring millions of dollars in savings, its uses ranging from real-time clearing and settlement of securities-related transactions, to cross-border payments and regulatory compliance.»

“At its core, blockchain is a ledger that can keep track of transactions and assets — whether it’s cryptocurrency changing hands, a patient’s medical chart, or a pill moving through the drug distribution pipeline. The technology distributes information across multiple computer hubs, creating an immutable, decentralized system of linked and synchronized “blocks” of data, joined or “chained” by digital signatures.”

Article written by Marlon Weems