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Switch to the paperless model thanks to the blockchain technology

What is blockchain?

Blockchain is a “chain of blocks of data”, a manner of recording information in a database (e.g. transaction data), in the form of subsequent blocks. Each block contains a reference to the previous block, making the chain unbreakable.

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What is the private blockchain network and what are the benefits?

Private blockchain allows the selection of partners and participants forming the blockchain network, thanks to which industry networks are built. The private blockchain ensures security and confidentiality of information, and the data writing itself is fast and does not require as large resources (related to e.g. power consumption) as public networks.

What is hash in the blockchain technology?

Each piece of information in the blockchain network is mathematically encrypted as a “hash” before it is added to the chain of historical records as a new block. Hash is a short string of characters assigned to any large data set using the so-called hash function. Hashes allow to use a relatively short string that corresponds to a specific transaction saved in the blockchain and verifiable at any time.

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