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Blockchain Technology.edited

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Computer Science
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Campbellsville University
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Running head: APPLYING BLOCKCHAIN IN INDUSTRIAL APPLICATIONS 1
Applying Blockchain in Industrial Applications
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APPLYING BLOCKCHAIN IN INDUSTRIAL APPLICATIONS 2
Applying Blockchain in Industrial Applications
Introduction
The emergency of blockchain technology has presented a plethora of opportunities to the
organizations in revolutionalizing their external and internal engagements. Blockchain has been
able to address issues related to the trust in the network, by upholding and integrating the
parameters of trust, organizations are facilitated to solving the problems instantaneously. Many
governments and organizations have yielded to that realization and they are committed to
bringing about blockchain technology in their operations (Mohamed & Al-Jaroodi, 2019).
Blockchain has enabled the safe exchange of assets without the medium of exchange. When
compared to the network technology which enables the digital transfer of units of value,
blockchain technology has facilitated the safe transfer of items such as currencies, land titles as
well as storing in its network. It appears in different forms i.e. some are designed to satisfy needs
of a specific group of participants and have their access to network limited to a certain level e.g.
the permission or private blockchains regardless of the protocol utilized, blockchain technology
presents the potential to transform the business models that have in existence for ages and pave
way for improved legitimacy in organizations and providing opportune areas for prosperity to the
users.
Security of data
The connection and the establishment of the linked records are secured using the
strongest security features of encryption algorithms. The developers of the technology such as
IBM are embarking on deliberate efforts to enhance the applicability of blockchain technology
and improve the viability in its various capacities. From the basics of the formation of the

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Running head: APPLYING BLOCKCHAIN IN INDUSTRIAL APPLICATIONS Applying Blockchain in Industrial Applications Name Institution 1 APPLYING BLOCKCHAIN IN INDUSTRIAL APPLICATIONS 2 Applying Blockchain in Industrial Applications Introduction The emergency of blockchain technology has presented a plethora of opportunities to the organizations in revolutionalizing their external and internal engagements. Blockchain has been able to address issues related to the trust in the network, by upholding and integrating the parameters of trust, organizations are facilitated to solving the problems instantaneously. Many governments and organizations have yielded to that realization and they are committed to bringing about blockchain technology in their operations (Mohamed & Al-Jaroodi, 2019). Blockchain has enabled the safe exchange of assets without the medium of exchange. When compared to the network technology which enables the digital transfer of units of value, blockchain technology has facilitated the safe transfer of items such as currencies, land titles as well as storing in its network. It appears in different forms i.e. some are designed to satisfy needs of a specific group of participants and have their access to network limited to a certain level e.g. the permission or private blockchains regardless of the protocol utilized, blockchain technology presents the potential to transform the business models that have in existence for ages and pave way for improved legitimacy in org ...
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