Blockchain has already made an impact on various industries — it is poised to change or even replace
the infrastructure of the financial services industry, and other industries like transportation can expect
disruption as well. Blockchain technology, like many new technologies, can completely transform the
way in which we conduct business. Blockchain technology has a number of benefits but an underlying
component of it involves trust. Business transactions between two or more parties have already
moved from paper to digital in many applications. By leveraging blockchain, an industry can enable
secured, digitized transactions with approval granted mutually by participating parties, tracked in a
common history, and requiring no central authority.