Blockchain technology, put simply, is a type of digital ledger which records transactions, agreements, contracts and sales. The technology is decentralized, which means that information is stored in computers around the world, and is constantly updated in real-time to reflect changes in stock, sales and accounts by bringing records together into blocks before algorithms 'chain' these data stores together chronologically. Blockchain is most commonly associated with Bitcoin, as the technology underpins how this virtual currency is bought and sold.
We are likely to see many uses of blockchain technology in the future, but what applications are currently being explored?
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