Azdan will help you to join other organizations and deploy & run smart contracts to update and query the ledger. Reliably share data and conduct trusted transactions with suppliers, banks, and other trade partners.
What is the blockchain technology?
Briefly, Blockchain technology is a shared transaction ledger in which can be written onto with new information, but the previous information, stored in blocks, cannot be edited, adjusted or changed at all. The blockchain was designed so these transactions are immutable, meaning they cannot be deleted. The blocks are added through cryptography, ensuring that they remain meddle-proof: The data can be distributed, but not copied
How can my business benefit from “blockchain” technology?
When you use traditional, paper-heavy processes, trading anything is a time-consuming process that is prone to human error and often requires third-party mediation. The technology has the ability to manage smart contracts and commercial actions automatically. Therefore, this directly streamlines every process and remove the cost and time from the transaction. Since record-keeping is performed using a single digital ledger that is shared among participants, you don’t have to reconcile multiple ledgers and you end up with less clutter. And when everyone has access to the same information, it becomes easier to trust each other without the need for numerous intermediaries.