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Published On Jun 12, 2025
Updated On Jul 14, 2025
Growth Lead
FAQs
Blockchain is a decentralized, transparent ledger that records information across multiple nodes, ensuring data integrity and security. Transactions are verified through consensus, making the system tamper-proof and reliable for businesses.
Blockchain is transforming industries like finance, supply chain, healthcare, real estate, and insurance by improving transparency, security, and operational efficiency. It helps businesses address challenges such as data silos, delays, and fraud.
The three main types of blockchain are public, private, and consortium. Public blockchains like Ethereum are decentralized, private blockchains offer more control, and consortium blockchains are governed by a group of stakeholders for collaborative efforts.
Blockchain enhances supply chain transparency by ensuring product traceability from origin to delivery. Companies like Myntra use blockchain to track and authenticate products, reducing counterfeit risks and improving customer trust.
Blockchain offers numerous benefits, including real-time settlements, process automation, and enhanced data security. By adopting blockchain, businesses can improve operational efficiency, reduce costs, and gain a competitive edge in a rapidly evolving digital landscape.