Blockchain in Record Management and Public Administration

A good comprehension of the blockchain technology is very important for stakeholders and employees in governments as it facilitate their decisions and helps in accomplishing objectives. The technology is often seen as a fault-tolerant and indestructible system that can be successfully used as the basis for digital transactions in various areas. Blockchain is a distributed database that stores information about all transactions of system participants in the form of a chain of blocks (thus the name Blockchain). All users of the blockchain have access to the registry, acting as a collective notary who confirms the truthfulness of the information in the database. Blockchain can be used for financial transactions, user identification, creation of cybersecurity technologies, etc.