Blockchain System Solutions provides a platform for sharing and recording transactions and data in an uncorruptible way. This distributed ledger technology is valuable for organizations that need to track and verify transactions, and provides transparency, trust and security.

Blockchain’s ability to eliminate middlemen and deliver a trustworthy, secure transactional environment has broad applications across multiple industries. It is the underlying technology behind cryptocurrencies, such as Bitcoin and Ethereum, but its capabilities have expanded well beyond this use case to support decentralized finance (DeFi), non-fungible tokens (NFTs) and supply chain management.

Smart Blockchain Systems That Power Finance

It is also being used to help with record keeping, digital notary services and smart contracts. It is particularly useful for businesses that need to track and trace information from the source to its end users, because it can eliminate the need to go through third parties like brokers, bankers or lawyers. This saves time, money and reputational damage.

Unlike other types of data storage, a blockchain is nearly impossible to corrupt or tamper with because the information is constantly reconciled and verified by millions of computers that make up the network. A blockchain is also immutable, so even if the wrong people get access to data, they would be unable to change it.

As a result of these benefits, blockchain is transforming business operations and enhancing trust, security and transparency across many industries. However, blockchain is complex and requires an understanding of its risks, as well as a solid plan to manage those risks. IBM’s blockchain solutions and consulting can help you design and activate a blockchain network that addresses governance, business value and technology needs.