Blockchain and Distributed Ledger

This technology was first used in bitcoins and other crypto-currencies. It uses single shared ledgers to store information. Advanced cryptography technology is used to make sure that information once entered in to the ledger cannot be altered except if the changes are in compliance with some of the pre-defined parameters.

Additionally, this technology uses different nodes instead of one centralized agency to have access to multiple copies of the same distributed ledger. This technology allows the changes made by the trusted peers to the ledger to be immediately reflected for faster decision making.

From the security angle, the ledger is also less vulnerable from cyber hacks as it does not present a high cost single point of breach like the way the centralized information architecture does. This technology also allows creation of hierarchies within the structure which in turn will help in the creation of suitable degree of access at each level of authority.

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