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Blockchain technology is just like a Bollywood star who become famous overnight. Those who involved in developing this technology become richer every day. This technology is based on peer to peer interconnected network. This technology provides the absence of central computers as well as there is also a clear absence of location i.e it does not give the details of the exact location of the place from where the transaction is coming.
This technology is revolutionizing the financial services in authentication for non-cash transaction without involving costly intermediaries. Implimentation of this technology can be made in many sectors and industries, such as administration, healthcare and streamline the process.
IBM is the leader in this field of blockchain technology. IBM is in conversation with various agencies like Government and banks to use this technology. The government wants to include intermediaries in this technology as without this they will not able to impose tax on the transactions. many technological giants like Microsoft, Oracle and Amazon are stepping into this technology.