Simplifying Business Processes Using Blockchain Technology

1
Simplifying Technology
Business
Processes
Using
Blockchain
Blockchain technology stores transactional
records, known as the public block, in several
databases, known as the chain, in a network
connected through peer-to-peer nodes. Typically,
this storage is the digital ledger. It is a
decentralized way of documenting transactions in
chronological order. Each network partner has
access to the entire blockchain and its history.
The accounts of all participants are updated with
information with every new transaction
recorded. COVID-19 Blockchain Technology The
ongoing situation can create some challenges in
the market of blockchain. It can play an
essential role in digital transformation
activities and initiatives amid the crisis. The
technology finds its use for public health data
surveillance, crisis management, medical supply
management, etc. The Coronavirus outbreak has led
to the development of many applications using
blockchain technology. For instance, in March
2020, WHO launched a blockchain platform to fight
COVID-19. World Health Organization (WHO)
collaborated with major blockchain and technology
firms to initiate a Distributed Ledger
Technology (DLT)-based platform for sharing data
regarding the Coronavirus outbreak. In another
instance, in March 2020, UAE adopted digital
identity and blockchain to fight COVID-19. The
United Arab Emirates Department of Community
Development (MOCD) has started implementing
digital channels for government services. The
system meets the requirements by leveraging
digital identity by individuals, blockchain
systems, and chat systems. Application and Use
Cases Blockchain technology has the power to
transform government operations and services. It
can play an essential role in improving data
transaction challenges in the government sector,
which currently operates in silos. Correctly
connecting and sharing data with the blockchain
allows better management of data between multiple
departments. This feature improves transparency
and provides a better way of monitoring and
verifying transactions. New features of
blockchain technology include decentralization,
transparency, immutability, and automation.
These elements are put into use in different
industries, leading to a variety of use
cases. For more information, please visit
_at_ https//www.iebrain.com/simplifying-business-pro
cesses-using-blockchain-technology/
2
About Ingenious e-Brain Solutions - Ingenious
e-Brain Solutions provides high-quality,
customized, and cost-effective Technology
Intelligence, Business Intelligence, and
Intellectual Property Intelligence solutions to
industry leaders, and innovative companies
across the globe. Innovation, knowledge, and
transparency form the basis of our companys
mission and vision. Along with cost benefits, we
provide highest quality results ensuring
fool-proof confidentiality and security. We are
an ISO certified company with offices in India
and USA. Ingenious e-Brain Solutions has a strong
team of analysts, and subject matter experts with
domain proficiency which is devoted to help
clients grow. Our highly qualified professionals
offer tailored, value-added and cost-effective
services to our clients. We believe in building
long term relationships with our clients who
include national and international corporations,
Fortune 500 companies, worlds leading research
institutes and universities as well as
independent inventors. Get in Touch - India
Office 207-208 Welldone TechPark, Sohna Road
Sector 48, Gurugram, Haryana 122018, India 91
124 429 4218 Email - queries_at_iebrain.com