Distributed Ledger

A Blockchain is a distributed and replicated database that is used to maintain a continuously growing list of records, gathered in blocks. Each block contains a timestamp and a link to a previous block. Once recorded, the data in any given block cannot be altered retroactively. Functionally, a Blockchain can serve as “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The ledger itself can also be programmed to trigger transactions automatically.“ This makes Blockchains potentially suitable for recording events, medical records, and other records management activities such as identity management, transaction processing, and documenting provenance.