What is Blockchain and Blockchain use casesחינם לחברי האיגוד

Blockchain for the enterprise is a shared, permission, distributed ledger (ספר חשבונות) that facilitates the process of recording transactions and tracking assets in a business network.

The Blockchain architecture gives participants the ability to share a ledger which is updated every time a transaction occurs through peer to peer replication.  

Cryptography is used to ensure that network participants see only the parts of the ledger that are relevant to them, and that transactions are secure, authenticated and verifiable.  

Blockchain also allows the contract for asset transfer to be embedded in the transaction database determining the conditions under which the transaction can occur.  

Network participants agree how transactions are verified through consensus or similar mechanisms.  Government oversight, compliance & audit can be part of the same network.

• CONSENSUS – means all participants agree that a transaction is valid.
• PROVENANCE– means participants know where the asset came from and how its ownership has changed over time.
• IMMUTABILITY– means no participant can tamper with a transaction once it is agreed. If a transaction was in error then a NEW transaction must be used to reverse the error, with both visible.
• FINALITY– means that there is ONE place to determine the ownership of an asset or completion of a transaction. This is the role of the SHARED LEDGER.