Why should we use blockchain?

Blockchain technology uses decentralized data storage to sidestep this issue, thereby building security into its very structure. Though blockchain technology is well-suited to record certain kinds of information, traditional databases are better suited for other kinds of information .

Because a traditional database is centralized, it can be hacked and tampered with. Blockchain, on the other hand, is very difficult, if not virtually impossible, to compromise. So if you have sensitive data to store and require a database with high fault tolerance, blockchain is your best bet .

Blockchain helps in the verification and traceability of multistep transactions needing verification and traceability . It can provide secure transactions, reduce compliance costs, and speed up data transfer processing. Blockchain technology can help contract management and audit the origin of a product.