Blockchain-Powered Insurance Industry
Simplesolve24 Jun, 2021Technology
What is blockchain and why is there so much buzz around it? It may seem quite complicated, but the core value of blockchain is very simple - It builds trust between parties sharing information. It is the technology first used behind bitcoin that deploys a decentralized public ledger for record-keeping. Access to information is through a cryptographic signature known as Hash. This means if one block in a chain was altered, the hash value will change and the tampering is immediately apparent.
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