Chapter 3. Explaining Blockchain Technology and Working with Hyperledger

Blockchain is a transforming force in a digital world in which people are connected more than ever. To explain it in a few words, this shared, distributed ledger known as blockchain is able to make the process of recording transactions and tracking assets in a business network more secure, easier, and with transparency for all members.

People now often use services such as internet banking, e-commerce, and apps for making purchases such as hotel reservations, taxi services, and other online services. This creates a huge volume of transactions and data. On top of this, IoT also brings new possibilities to this digital world. As products integrate with IoT, the volume of transactions grows exponentially; therefore, the necessity to connect to suppliers, banks, and regulators across geographical boundaries grows.

Blockchain technology provides a huge opportunity to transform operational business in many industries, such...