Blockchain is a system in which a cryptographic record of transactions (financial or otherwise) are made and maintained across a decentralized peer-to-peer network of computers. In other words, Blockchain is a digital platform for recording and verifying transactions that is managed by cluster of computers not owned by any single entity.
Because Blockchain is decentralized and theoretically lives forever digitally, Blockchain records provide standardized accounting of all touch points in any transaction. This means that everything from contracts, to financial transactions, bills of lading, property titles, and tax filings (defining structures of our economic system) could one day be digitized and recorded forever in an open, distributed ledger.
Moreover, Blockchain will do this while keeping its thousands of stakeholders transparent, honest, and accountable for their individual transactions. For these reasons, Blockchain has the capacity to effectively eliminate the need for intermediaries and middlemen of all kinds. From banking to supply chains, trade identification to data delivery, and identity verification to, yes, currency, Blockchain will upend and transform entire industries in the next several decades, as well as bring to market an assortment of services never before conceived.
Blockchain Consulting Services
Through Eastham’s Blockchain consulting services, we will help your organization realize the broad implications of digital ledgers in your industry and identify potential use-cases specific to your organization. We will also work to provide you with a framework for identifying how to implement Blockchain technology in the present—to improve your current product offerings—as well as determine the cost-savings benefits of incorporating Blockchain technology into your existing systems.