Shamit Khemka, the founder of SynapseIndia, is keen to understand and use new enterprise technologies. With the increasing popularity of blockchain across industries, IT companies like SynapseIndia are seriously considering the trend.
Blockchain is a digital ledger that allows information to be distributed but not copied. With this capability blockchain technology created a framework for a new kind of internet. Blockchain was originally built for the digital currency Bitcoin by a group of people known by the pseudonym Satoshi Nakamoto. The technology has now found potential applications across different industries. A blockchain is a series of an immutable record of data that is managed by a cluster of computers owned by different individuals. Each of the blocks of data is secured and connected to each other using cryptographic technology, which is the chain. One of the most striking features of blockchain is that the network doesn't have any central authority. As mentioned earlier, the information is shared across the network and it is accessible to everyone. Therefore, anything built on a blockchain is transparent by design.
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