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5 blockchain terms business leaders need to know

Blockchain

Businesses grew excited about blockchain in 2018, but the year 2019 will see actionable results from the technology, according to a recent report from Globant.

Blockchain, typically associated with securing Bitcoin transactions, is also a major force in protecting personal privacy data. Using digital signatures and cryptographic hashing, blockchain is an immutable public ledger tool offering users both transparency and autonomy in securing data.

SEE: Research: The current state and predictions for the future of blockchain in the enterprise (Tech Pro Research)

Blockchain eliminates the need for private information to be centralized through a third party, allowing businesses to transmit data with more trust and security. Of the 650 senior-level marketing, IT and operations decision-makers surveyed by Globant, 71% said the presence of blockchain technology bolsters consumer confidence in the company's ability to protect their personal data, the report found.

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