GLOSSARY: Blockchain

Bob Celeste the founder of The Center For Supply Chain Studies (C4SCS) defines it as ‘a continuously growing list of records, called blocks, which are linked and secured using cryptography.’ This network usually peer-to-peer managed and follows set rules when validating new data block.

The distribution of data is secure and a data transaction is conducted at a minor fee. Data governance rules are enforced to preserve integrity when inputting or retrieving information. After input, data and program modification or removal is usually impossible.

These attributes provide all users with a consistent view of the ledger in its latest state.