Definition

Developed since 2008, blockchain is primarily a technology for storing and transmitting information. This technology offers high standards of transparency and security because it operates without a central control body.

More concretely, blockchain allows its users - connected in a network - to share data without intermediaries.

The advantages

The use of blockchain has many advantages, including

  • the speed of transactions, as the validation of a block takes only a few seconds to a few minutes.

  • In the logistics sector, the blockchain has two interests: ensuring product traceability, as well as the memory of the various interventions in a production and distribution chain.

  • the productivity and efficiency gains generated thanks to the fact that blockchain entrusts the organisation of exchanges to a computer protocol, which mechanically reduces the transaction or centralisation costs existing in traditional systems (financial costs, control or certification costs, recourse to intermediaries who are remunerated for their service; automation of certain services, etc.).

  • But many sectors are potentially concerned by the use of blockchain technology: banking, insurance, agri-food, energy, health, real estate, aeronautics, etc.

To sum up

  1. it is a technology for storing and transmitting information, taking the form of a database

  2. has the particularity of being shared simultaneously with all its users and does not depend on any central body

  3. has the advantage of being fast and secure

  4. and has a much wider scope of application than crypto-currencies/crypto-assets (insurance, logistics, energy, industry, health, etc.).

Article source:

https://www.economie.gouv.fr/entreprises/blockchain-definition-avantage-utilisation-application#

https://fr.wikipedia.org/wiki/Blockchain

https://blockchainfrance.net/decouvrir-la-blockchain/c-est-quoi-la-blockchain/

Did this answer your question?