A blockchain is a database that is shared across a network of computers (distributed ledger). Once a record has been validated, it’s added to the block (ledger), after which it cannot be changed. To ensure all the copies of the database are the same, the network nodes make constant checks to ensure they have the latest version of the blockchain.

Blockchain emphasis is placed on decentralised peer-to-peer transactions and are therefore not controlled by a single centralised entity. The database is completely transparent and retains a historic record of all transaction data. Blockchains are however secured by complex cryptography rules and are only accessed by public and private keys.

Blockchains have been used to underpin cryptocurrencies like Bitcoin but the technology far exceeds this original intention.

Retail Solutions founder Mark Taylor, has extensive experience in Retail & eCommerce. His Retail Blockchain experience is more recent and what started as a mild curiosity is now a passion. As a Retail Blockchain Advisor, he is helping retail companies to explore blockchain technology in Retail. So if you are looking to reduce costs, see faster payments, increased transpareny and improved security, get in touch.

About Mark Taylor · Retail Blockchain Advisor