Blockchain technology is a decentralized, distributed ledger that records transactions in a secure and transparent way. It allows multiple parties to have access to the same information simultaneously, reducing the risk of fraud and increasing efficiency. Each block in the chain contains a unique code, called a hash, which links it to the previous block. This creates an unbreakable chain of information that is virtually impossible to hack or alter. Blockchain technology has a wide range of applications, including finance, healthcare, and supply chain management . 10 Ways Blockchain Technology Can Help Your Business Cut Costs and Increase Efficiency 1. Streamlining supply chain management: Using blockchain technology, businesses can track products and transactions throughout the supply chain, reducing the risk of fraud and errors. 2. Automating contract execution: Smart contracts can be coded onto a blockchain, allowing for automatic execution of terms and conditio