BLOCKCHAIN- A DEEP DIVE

3. Smart contracts- A collection of rules called a smart contract is stored on the blockchain and executed automatically to speed up transactions. A smart contract can specify requirements for corporate bond transfers, as well as payment terms for trip insurance..

As each transaction occurs, it is recorded as a “block” of data

These transactions depict the movement of a tangible (a product) or intangible asset (intellectual). The data block can store any information you want, including who, what, when, where, how much, and even the state of a shipment, such as the temperature.

Transactions are blocked together in an irreversible chain: a blockchain

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