A PRIMER ON BLOCKCHAIN

Abstract

Originally developed as the accounting method for the virtual currency Bitcoin, Blockchains are appearing in a variety of commercial applications today. Blockchain technology is a type of distributed digital ledger that uses encryption to make entries permanent and tamper-proof and can be programmed to record financial transactions. It is used for secure transfer of money, assets, and information via a computer network such as the Internet without requiring a third-party intermediary. It is now being adopted across financial and non-financial sectors. As a catalyst for change, the Blockchain technology is going to change the business world and financial matters in major ways. This paper provides an introduction to Blockchain.