Blockchain, though originally associated with Bitcoin, is being adopted for B2B ecosystem and SMEs. It powers diverse applications such as Web 3.0, sharing rides, land records, inventory management, financial services, insurance, loan management, healthcare and identity management.

In sum and substance, it is decentralised ledger of all transactions across peer-to-peer network which does not require a central clearing authority.

A transaction is valid when it is recorded on the main register, as well as distributed system of registers. These registers are connected through a secure validation algorithm. If there is an change in register, all stakeholders are informed.