The concept of blockchain technology was first introduced in 2008 with the invention of Bitcoin.Since then, the technology has been adopted by numerous industries and its potential applications have been explored in many different ways. In recent years, blockchain technology has become more mainstream thanks largely to the success of cryptocurrencies, which has spurred on further developments in the field with companies now investing heavily into research and development of new use cases for this revolutionary technology. Blockchain offers businesses improved security, transparency, scalability and cost savings when compared to traditional systems making it an attractive option for many enterprises looking to increase their efficiency or reduce costs associated with operations.
