Blockchain is a internet- and database-based technology for executing digital transactions with high data security. Data are first divided into "blocks", which are part of a "chain" (online network) and are later merged again.

Procedure

The transmission of data is encrypted and each participant in the chain must verify the desired transaction. Thereafter, the transaction can be considered completed.

Fields of application

The fields of application include online marketplaces for buying and sales transactions, the processing and transfer of data subject to data protection in public offices, such as official documents or personal data, banking and securities trading, and much more.

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