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Blockchain technology is a trusted, replicated, distributed, and shared ledger for managing and recording transactions across multiple participants. All the participants connected to the transactions hold the information through peer-to-peer verification. The transactions are no longer stored in a central database, but among the participants (called nodes).
With technological evolution, blockchain ensures that business need is met, while ascertaining security and trust between parties. Inclusion of smart contract makes it even more meaningful across organizations or applications working in silos. It should not only be seen as option for integration, but also as a platform that can help meet business and technology needs.