Understanding Blockchain Technology:
Blockchain is a decentralized and distributed ledger that records transactions across a network of computers securely and transparently. The fundamental concept revolves around creating a chain of blocks, each containing a list of transactions. These blocks are linked and secured using cryptographic hashes, making the data resistant to tampering and fraud.
Benefits of Blockchain Technology in B2B Retail
- Improved supply chain management
- Improved efficiency
- Enhanced Transparency
- Smart Contracts for Efficient Transactions
- Improved Security
- Enhanced Data Quality
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