By allowing digital information to be distributed but not copied and that too in a very secure way, blockchain technology created the backbone of a new type of internet. Blockchain is a technology that promotes trust between trading partners. The blockchain network has no central authority. If you’re familiar with Bitcoin, blockchain is the prime technology that makes it possible to transfer currency and have confidence that transactions are completed favorably. But banking and other industries are using blockchain (with/without Bitcoin) in a variety of ways. A blockchain is a secure balance sheet or a ledger or a list of transactions.
Blockchain and distributed ledgers have a bright future. It can help banks not only to reduce the cost of processing payments but also to encourage them to create new products and services that can generate important new revenue streams. Jellyfish Technologies is one of the early adopters of Blockchain and over the years we have developed good competency in developing blockchain-based solutions. We are proficient in implementing private blockchains, smart contracts, API integration to Blockchain and other custom requirements. For more: -