This assignment is on Blockchain Technology
Blockchain is a distributed database that maintains a continuously-growing list of records called blocks secured from tampering and revision. Each block contains a timestamp and a link to a previous block. It has been claimed to be the new revolution in Banking and Finance which will change the manner in which we conduct our business and associated record-keeping. Banks will be at the forefront of this technology, and already many leading banks throughout the world have adopted the use of Blockchain
You are to research Blockchain and answer the following questions:
1. Explain Blockchain Technology and its potential uses in industry and commerce.
2. Analyze how Blockchain will change the manner in which banks do business.
3. List and explain the applications to which Blockchain can be employed.
4. Theorize how companies can leverage on Blockchain.
5. Summarize your thoughts on advantages and disadvantages of Blockchain technology.
6. Summarize the phenomenon of Bitcoin, explaining its explosive growth as an alternative currency.
7. Provide an analysis of the link between Bitcoin and Blockchain technology