DIGITALISATION Q2 2021 1
Facts: Blockchain The main purpose of blockchain
is usually to create a consensus regarding what has happened, such as economic transactions or ownership certification, in a network of participants which do not implicitly trust each other. Put simply, a blockchain is a chain of cryptographically signed blocks, consisting of transactions, shared by participants in a network. New blocks are added to the chain, which are sequentially linked to the end of the chain with suitable algorithms. The entire transaction history is thus saved in the chain of blocks, and cannot be changed. Blockchain is not a single concept – there are significant differences between different types of blockchains. Together, they have the long-term potential to change classical value chains, in trade, information management and payments, to name but a few areas. Technology develops rapidly, with new solutions that can better manage some of the current challenges associated with blockchain, such as low performance and the negative environmental impact, and that may facilitate new areas of use. The possibilities of blockchain in the short term include improving the efficiency and automation of processes involving multiple parties, and thus reducing our costs and risks, as well as improving transparency. Would you like to find out more? Watch the clips from EFN Economic and Financial News: How blockchain works April 13, 2021 (5 min) Long way left for the e-krona April 13, 2021 (1.5 min) Learn more about cryptocurrencies May 24, 2021 (33 min) HANDELSBANKEN 29