Due to Bitcoin, blockchain has grown in popularity over the last decade. However, Blockchain applications have now expanded far beyond cryptocurrency. Blockchain technology is transforming many industries especially blockchain technology in Malaysia, including BFSI, healthcare, education, real estate, supply chain & logistics, and IoT, to name a few.
Because of its inherent qualities – the decentralised and distributed ledger is immutable and completely transparent – blockchain’s popularity and increasing industrial applications are skyrocketing. A centralised authority is not required to manage a Blockchain network. The information stored in the Blockchain ledger is verified by all network peers. The bottom line is that it is highly secure and dependable, with few points of entry for attackers. Essentially, Blockchain technology’s characteristics make it one of the most revolutionary technological tools of the twenty-first century. Blockchain technology, as a tamper-proof ledger, has numerous potential applications for businesses across all industries.