Revolutionise how you do
business with Blockchain
“Blockchain could reduce investment banks’ infrastructure costs by 30%.” – Accenture Consulting
“It is expected that blockchain-based projects will add more than $360-billion of value to businesses by 2026.” – Gartner
“74% of tech-savvy executive teams say they believe there’s a huge business potential in blockchain technology.” – Deloitte
“The costs of transactions using blockchain are millions of times cheaper than transaction costs in traditional economy.” – Etherscan
One of the fastest-growing technologies of recent times, Blockchain has all the capabilities to transform enterprises across industries and is deemed to the next-big-thing after the Internet. The technology can be defined as a list of records called blocks that are connected using cryptography where every block holds the cryptographic hash of the previous block, a timestamp, and transaction data, which is represented as a Merkle tree.
Touted to be the future of technology, Blockchain has been widely accepted by enterprises and economies globally. Blockchain solutions based on Hyperledger and Ethereum have tremendous potential to reshape multiple industries including, finance, supply chain, education, healthcare and more, and help set new standards in each respective market.
Features of Blockchain
Given its immutable and decentralised nature, it is virtually impossible to modify any information that has once been created on Blockchain. A completely secure, digitised, transparent, and reliable technology, Blockchain is transforming businesses across the globe…and it has only just started!
Immutability can be defined as the ability of a blockchain ledger to remain unchanged, for a blockchain to remain unaltered and indelible. No data entered in the blockchain network can be altered. To make any new transaction, every node on the network needs to check and approve of its authenticity. This helps in improving transparency across the network and leaves no scope of fraudulent activities.
All Blockchain transactions are secured by cryptography with each transaction being signed by a private key, which is further verified with a public key. In case there is any modification made in the transaction, the signature becomes invalid, resulting in the block being removed from the chain.
Blockchain is virtually impossible to hack given its decentralised nature. Being a technology that does not have a single point of failure, it is a lot harder to corrupt; hacking into one part of the system will not impact the others, hence protecting the data within the network.
Distributed Ledger Technology
A decentralised ledger is a database that exists amongst various participants. A decentralised technology, DLT enables enterprises to eliminate the need for intermediaries or central authorities and instead allows all participants (nodes) to process, validate or authenticate transactions in the network. The transaction is stored in the ledger only after the consensus has been reached by the parties involved.
Each transaction on Blockchain works through a consensus model that verifies the authenticity of a transaction made, helping the network make decisions. The consensus algorithm forms the core of the blockchain’s functionality and architecture.
Every transaction made using blockchain gets stored on the network, providing a verifiable and auditable trail of information about the history of the transactions made.
How Blockchain Works?
With an intent to transform the education sector, Pansoft launched its very own blockchain-powered product, PanCerts, a digital academic credentialing platform. PanCerts can help academic institutions and organisations across the globe to be prepared against the threat of counterfeit academic credentials.
At Pansoft, we have a team with excellent problem-solving skills and expertise to assess, commend and mentor you towards the right path and solution for your business. We can prepare strategic plans to help you realise the value that blockchain can bring to your business.
Our Blockchain Offerings:
- Blockchain Consulting
- Blockchain Application Development
- Blockchain Hyperledger Development
- Blockchain Development
- Smart Contract and Audit
- Blockchain Framework
- Blockchain Wallet Development
Benefits of Blockchain:
- Offers greater transparency
- Is tamper-proof
- Lowers transaction costs
- Gives users control over their information
- Eliminates the need for intermediaries
- Is resistant to cyberattacks and threats
- Ensures the authenticity of data