Technology

July 8, 2025
Blockchain Beyond Bitcoin: Smart Contracts & Supply Chains
Understanding Blockchain Technology
Blockchain is a decentralized digital ledger that records transactions across many computers, ensuring data integrity and transparency. Unlike traditional databases, it’s nearly impossible to alter recorded data without consensus.
What are Smart Contracts?
Smart contracts are self-executing contracts where terms are written in code. Running on blockchain platforms like Ethereum, they automatically enforce agreements without intermediaries.
Real-World Use Cases Beyond Cryptocurrency
- Supply Chain Management: Track the origin and journey of goods transparently to prevent fraud.
- Healthcare: Secure sharing of patient records with strict access control.
- Legal: Automate contract execution, reducing paperwork and costs.
Challenges and Limitations
- Scalability remains a concern as networks grow.
- Energy consumption, especially in proof-of-work chains.
- Regulatory uncertainty in many regions.
Hazel Parker
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