Consisting of a distributed and decentralised digital ledger, though the blockchain is often associated with cryptocurrencies like Bitcoin, in reality, wherever you require safe transactions, the technology may be used with phenomenal results. After all, it is resistant to data modification and leads to a host of ingenious possibilities:
A distributed ledger for cryptocurrencies remains one of the blockchain's primary uses. The most notable of these is Bitcoin.
In addition to being both trackable and irreversible, smart contracts enable automated escrow.
The blockchain is being heavily adopted by financial institutions, as it may help speed up back office settlement systems.