Blockchain has been one of the most talked-about tech trends of the last few years. As with many other trends that were important before the pandemic hit, it didn’t make as many headlines in 2021 as it has done previously. But development has been ongoing and the year saw continued adoption of the technology throughout many industries and sectors.
The simplest way to think about blockchain is that it is a database – a storage infrastructure for data – that’s secured by both encryption and by being decentralized. With many copies spread across many locations, all kept up-to-date simultaneously, changes can only be made to the data when there is consensus that it is correct to do so.
This relatively new (established by the protocol for the Bitcoin cryptocurrency in 2008) way of managing and securing data can be used anywhere there is a need for a shared database that can be accessed and used by different people or organizations. One way of looking at it is that the security of the data is