The idea of block-chain is to enhance business and make better relationships in organizations. The goal is to develop trust and create confidence among people.

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Block-chain empowers the next step – enabling a single, authentic data set shared across the counter-parties. With block-chain, one gets structured and formatted data parts are thrown in for free.

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It creates a multi-party business process that is moving out of emails and spreadsheets and into a single system with a single view that all participants can trust.

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Block-chain technology is considered the backbone for cryptocurrencies like Bitcoin, but with an increase in technology, blockchain is ready to cover a larger area.