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❶ How blockchain empowers transactions

Blockchain technology itself is a distributed ledger technology, and its core features include decentralization, non-tampering, transparency, etc. These characteristics allow blockchain technology to be used to empower transactions. Here are a few examples:

Decentralized payment: With the help of blockchain technology, without any intermediaries, we can realize a global instant transfer method, making currency and virtual The asset trading process is more convenient, safe and reliable.

Smart contracts: Smart contracts are automated contracts based on the blockchain that can ensure trust between two participants without involving a third party, thereby reducing operating costs and risks. Smart contracts have the advantages of faster, lower cost, and more accurate execution, making the transaction process more efficient.

Decentralized exchange: By using blockchain technology, a decentralized exchange can be established where participants can trade directly and control their own digital assets in the process, unlike traditional transactions. In comparison, it can avoid the possibility of third-party intervention and improve the transparency and security of transactions.

Digital identity verification: Blockchain technology can be used to establish a secure, decentralized identity verification system, which will help improve users’ trust in digital asset transactions and reduce the risk of fake accounts , improve safety.

In short, blockchain technology can empower the transaction side by providing faster, more convenient, and safer transaction methods.

❷ Lenovo TruScale service: a story of internalization and externalization

Text/Louis Cao Xingbi

A large new retail company will use an interactive smart Shelf equipment is used in offline stores to better display products in the store and help customers shop by themselves. This project is of great strategic significance because it helps the company improve its customers' nationwide and omni-channel marketing territory.

However, in the rapid expansion of projects, the pain point faced by enterprises is that stores across the country have uneven deployment, management and operation and maintenance capabilities of smart devices, making it difficult to have a standardized unified platform. To operate and manage the Services.

To address this pain point of enterprises, Lenovo TruScale service provides a one-stop service solution: First, the Daas service (data as a service) turns the one-time investment in equipment into one that can be flexibly increased as the project progresses. cost; secondly, the nationwide IT operation and maintenance service loads hundreds of thousands of corporate stores into a unified IT intelligent operation and maintenance platform, allowing Lenovo's nationwide service spare parts supply chain, 2,600 service stations and more than 20,000 engineers to is called to quickly solve problems with smart devices in the store and ensure that the devices are always online.

TruScale service is an endogenous product of Lenovo China’s intelligent transformation.It has actively promoted the phased results of intelligent transformation over the past many years. While Lenovo has perfectly realized its own intelligent transformation, it has internalized and externalized it and continuously empowered the intelligent transformation practices of other companies. Finally, it has grown from a company with almost stagnant sales to a company whose original business has continued to grow in PC sales. It is a diversified enabling enterprise that has simultaneously opened up new business areas and growth points. The three major achievements of the transformation also directly contributed to the launch of the TruScale service: the "customer-centric" concept was directly reused in the TruScale service; the smart service business that continued to grow during the 3S transformation contributed to the birth of SSG and gave birth to SSG. The TruScale service was developed; Qingtian, the core competitiveness, became the technical core of the TruScale service.

In this article, let’s review Lenovo China’s intelligent transformation in the past few years, and how the results of the transformation have resulted in the TruScale service.

01

Transformation concept: Customer-centered, promote model changes that directly reach customers

With customers as the center, companies need to solve pain points and create value for customers , which requires the enterprise itself to make a series of changes in organization, software, services, etc. In this great change, Lenovo China has acted as a vanguard.

Liu Jun, executive vice president of Lenovo Group and president of China, pointed to the change in the internal organizational structure: Lenovo China has transformed the organization from product line division to customer group division to ensure that each business can focus on specific Customer base, systematically establish a system from products, marketing, GTM to services. Lenovo divides the organizational structure of China into large commercial customers, small and medium-sized enterprise customers and consumer customers, and promotes business changes directly to customers based on the characteristics of different customer groups.

The establishment of the new structure enables Lenovo to always maintain a keen response to customers and the market, and to flexibly adjust its business strategy to maintain competitiveness. For example, in the field of large commercial customers, Lenovo has established an R-mode Rel 2.0 transformation. Through the C360 system, it can comprehensively grasp the customer's experience and key pain points throughout the entire journey to ensure timely resolution and process solidification. In the 2021/22 fiscal year, the R model has been upgraded to the Rel 3.0 transformation, and through intelligent means, it has achieved a 33% year-on-year increase in the activation rate of key customer groups. For the small and medium-sized enterprise customer base, Lenovo China has promoted the "One SMB" reform, integrated Think and Yangtian businesses, and built a new direct customer model. In the first quarter of the 2021/22 fiscal year, the market share of small and medium-sized enterprise PC sales reached 32.5%, an increase of 5.4% year-on-year, setting a new high for the same period in history. In the field of consumer business, Lenovo has also launched a To C business model transformation that directly reaches consumers. It has continuously transformed and evolved from three aspects: product strength, marketing strength and retail strength, and established an industry-leading OMO integrated retail model that can operate online and offline. 24 hours noServe customers on an intermittent basis.

"In the past, we used a transactional sales model to deal with consumer users. After selling the computer, we said goodbye to the customer and no longer had any contact." Liu Jun said that from October 1, 2017 Since then, Lenovo has finally begun to accumulate customer data. So far, Lenovo has more than 140 million members, and the number of monthly active users has reached 17 million.

The "customer-centric" transformation concept will be combined with "smart products, smart infrastructure and smart service transformation" ("two major transformations") in the future, as well as smart IT engines, brand re-engineering and new entrepreneurial culture The "three cornerstones" of its establishment together constitute Lenovo China's "Sunrise in the East" strategy.

02

3S Transformation: Looking for the Second Growth Curve and Obtaining New Cheese

Before Lenovo China started its transformation in 2017, its main product was PC, and consumption Readers’ perception of Lenovo is often “the world’s largest PC brand”. However, while a single product and business model helps companies build a solid moat, it is also limited by poor risk resistance and is prone to missing development opportunities in surrounding industries. Lenovo urgently needs to find new business cheese.

When Liu Jun returned to Lenovo, he led his team to conduct a detailed survey of the PC and peripheral industries. The results showed that the consumer tablet business is approximately equivalent to half of the entire consumer PC business; the mobile phone business has reached The consumer PC business is 7 times the size; the entire IoT commercial and consumer market is twice the size of the PC market; the entire new IT service market is 1.5 times the size of the commercial PC market...

Such a vast market , becoming a new track for Lenovo China to expand its business. Under the group's vision of "smart for every possibility", Lenovo China has established the goal of "becoming China's leading 3S supplier" based on its original PC business advantages, and continues to expand smart products (Smart Devices), intelligent 3S business of infrastructure (Smart Infrastructure) and smart service (Smart Service).

What needs special mention in the 3S business is the smart service business. This is a new business department reorganized and established by Lenovo China during its transformation and reform. It has gradually expanded from equipment support services to operation and maintenance services, Dass services and service cloud, and then to solution services.

In the past four years, Lenovo China’s smart service business has grown rapidly. IDC data shows that the top five companies in China's IT service market in 2020 are IBM, Huawei, China Information, New H3C and Lenovo. In the "2020-2021 China IT Service Market Research Annual Report" released by CCID Consulting, Lenovo ranked fourth among the "Major Vendors in China's IT Service Market in 2020".

Based on its smart service capabilities accumulated over the past four years, Lenovo Group established a new business group SSG (Solutions & Services Group) in April this year. Ken Wong, Lenovo's senior vice president, serves as the president of SSG.

At the Lenovo Innovation and Technology Conference on September 8, Dai Wei, Vice President of Lenovo Group and General Manager of China Service Business Group, divided Lenovo China’s smart services into three categories: device-centered support services , as-a-service with operation and maintenance services as the core, and solution services with vertical industry applications as the core.

The new brand TruScale launched at this innovation and technology conference is a phased result of the continuous growth of smart service business.

In the process of intelligent transformation, enterprise needs are changing dynamically, so traditional, one-time IT cost investment is too risky for customers. Lenovo continuously adjusts its service strategy based on the application of new IT technologies and actual conditions, combined with business output. In the end, it not only integrates customers' scattered procurement of hardware, software and services, but also combines Lenovo's operation and maintenance service delivery capabilities to provide Customers are provided with a package of all-inclusive service options, allowing them to focus more on their business innovation.

In the case mentioned at the beginning of the article, Lenovo seized on the pain point of retail enterprises’ “lack of standardized and unified platforms to manage smart devices in different stores” and provided customers with one-stop solutions through TruScale. The service not only turns the customer's one-time investment into a cost that can be flexibly adjusted, but also provides customers with immediate services with its 2,600+ service stations and 20,000+ engineers covering tier 1-6 cities in mainland China, allowing customers to focus on For the management of offline stores, the entire IT operation and maintenance guarantee can be safely handed over to Lenovo.

03

External empowerment: with "Lenovo Qingtian" as the technical core

"Facing a large number of customers, there must be strong IT technical support behind it , mature social media and a series of technical supports, Lenovo must seize the historic opportunity of this transformation." Since the beginning of Lenovo's transformation, it has proposed the strategic thinking of building a new IT technology architecture and technological innovation. After more than four years of The core engine "Lenovo Optimus" of the new IT architecture was polished. The name comes from the superhero Optimus Prime in "Transformers", which is Optimus Prime in English.

"Lenovo Qingtian" has three main features: cloud native, mid-level, and AI intelligence. Liu Jun embodied these three characteristics as "fast", "saving" and "smart": firstly, "fast", the hybrid cloud architecture enables rapid development, agile delivery and large-scale replication of complex and diverse scenario applications; secondly, "saving" ", Qingtian canHelps massive IoT terminal devices and various scenario applications achieve integration, low-cost deployment and iteration; the third is "intelligence", which can be embedded into various industry scenarios through modular, self-learning AI engines, supplemented by big data platforms In application, efficiency improvement, value creation, and decision-making management can be fully "intelligent".

"Lenovo Qingtian" is the core driving force for Lenovo's PC business to maintain its leading position in the market. It is the internal driving force for Lenovo China's steady progress and plays an important role in achieving cost reduction, efficiency improvement and business innovation. effect. Take the "Smart Rubik's Cube" in Lenovo's Qingtian module as an example. The Rubik's Cube intelligent robot customer service system can independently complete more than half of customer consultations, which effectively ensures that Lenovo's services are uninterrupted 24/7, and the five-star praise rate reaches more than 90%. Through the Smart Cube, Lenovo China has significantly improved customer service efficiency, effectively reduced operating costs, and achieved cost reduction and efficiency improvement.

With the three major characteristics of cloud native, mid-level, and AI intelligence, "Lenovo Qingtian" not only establishes the core competitiveness for Lenovo China and drives business changes internally, but also internally and externally. ization and played an important role in the intelligent transformation of external service customers.

Let’s look at some examples of Optimus Engine applications.

In the operation and management of smart cities, the "Smart Rubik's Cube" module in "Lenovo Qingtian" is packaged with middle-end modules such as AI, blockchain, and big data to form a city operation management platform for rapid dispatching City service resources, empowering city operation management application ecosystem. Relying on "Lenovo Qingtian", Lenovo's smart service team integrates the government affairs business of 12 departments including Xiamen's public security, human resources and social security, medical insurance, provident fund, and municipal supervision to create Xiamen's "e-government" convenient services of the "15-minute convenient service circle" The system not only greatly alleviates the burden of inconvenience on the people, but also delivers government services to the people's "doorsteps." Currently, the city operation and management platform is also used in the command center of major international events to be held in winter, and is expected to become Beijing's smart city operation and management center.

In terms of smart education, with a smart service system of more than 20,000 certified engineers and more than 2,600 service centers, Lenovo China has served 200,000 schools over the past 30 years, with an education market share of more than 60%. Lenovo’s smart classrooms, smart classrooms, and smart campuses have been implemented in China, becoming an important force in promoting China’s education informatization 2.0. In November last year, Lenovo China built a smart classroom for a local school in Linxia, ​​Gansu Province, equipped with leading cutting-edge technologies in the field of smart education and a series of smart education solutions such as smart classrooms and special delivery classes.

In the field of intelligent manufacturing, taking Lenovo's world's largest PC production and R&D base - Lianbao Technology in Hefei, Anhui Province as an example, the industrial big data platform LeapHD and the Industrial Internet of Things in the "Lenovo Qingtian" module The three major modules of the platform LeapIoT and the enterprise-level artificial intelligence platform LeapAI are organically linked to pave the way for Lianbao’s intelligent upgrade.Create an intelligent production planning system. Since the system went online, its delivery fulfillment rate has increased by 20%, overall production efficiency has increased by 18%, and the personalized customization rate of ThinkPad laptop products has exceeded 80%.

In the field of smart energy, Lenovo has also served more than 200 large enterprises through externalizing its own practices. For example, in the petrochemical industry, there are more than 1,000 information collection points in the entire catalytic cracking process of oil refining, making management difficult. Now, smart IoT devices and sensors managed by the LeapIoT platform replace human labor, collect data, and then use the LeapHD platform for cleaning and the LeapAI platform for analysis, so that the machine can automatically adjust and manage based on the optimization results. This solution has helped a petrochemical company increase the yield of converting crude oil into gasoline by 0.9 percentage points, and its annual net profit increased by more than 50 million yuan.

In the field of smart agriculture, take the cooperation between Lenovo China and Shaanxi Liangjiahe Sipiao Agriculture Technology Company as an example. Relying on its advantages in the fields of big data, blockchain technology and IoT, Lenovo went to the countryside with a plan and built an "IoT+Cloud+BigData+comprehensive service and unified monitoring platform" for Liangjiahe Sipiao Agricultural Technology Company. The complete smart agriculture solution effectively integrates dynamic data such as agricultural production, agricultural input management, sales channels, order matching, and apple planting and production data, achieving comprehensive services and unified supervision of the local apple industry, and finally through a second The QR code can be used to trace the origin of every Liangjiahe apple. In the future, this system will also be able to realize intelligent management such as agricultural visual remote diagnosis, remote control, and disaster early warning.

The new brand TruScale service launched at this innovation conference also uses Lenovo Qingtian as its technical core. "Now, Lenovo TruScale can run SAP S/4 HANA Cloud (private cloud version) that can be deployed in customer data centers."

In the past, Lenovo served various industries. At that time, the business was carried out by different business departments, and there was not even a complete service image. Now the "TruScale Service" equipped with Lenovo Optima will be officially launched as Lenovo's service brand. The industry's positioning of Lenovo service providers and solution providers There are more expectations.

04

Conclusion

"In the era of intelligence, all industries are worth redoing. As the foundation of the era of intelligence, what are the reasons for solutions and services What if we don’t innovate and change?” Ken Wong, President of Lenovo SSG, raised this thought-provoking question at the beginning of his speech at the Lenovo Innovation Conference.

The full text is complete, thank you for your patience in reading.

❸ Blockchain financial application innovation platform, chain application, how to operate bonds

Blockchain financial application, blockchain bond operation preparation before blockchain + bond blockchain because It has unique advantages and has the potential to replace traditional securities issuance methods and trading models, establish a new blockchain securities market network, complete certification, confirmation, issuance, trading, traceability and other tasks, and also help eliminate fraud and breach of contract
and other behaviors to achieve real-time penetration supervision. The biggest difference between traditional bonds and blockchain bonds is that the traditional model is based on centralized peer-to-peer bonds. The center may be an intermediary or electronic account, while blockchain bonds are decentralized or decentralized. Intermediary peer-to-peer circulation of bonds can help improve efficiency and solve problems such as information asymmetry. Blockchain + IPO makes IPO-related information transparent and public through the blockchain, allowing investors to follow traces and increasing their fraud costs. Building a consortium chain By forming a consortium chain and deploying bond issuance on the blockchain to achieve point-to-point issuance, the role of securities underwriting institutions can be weakened and underwriting fees can be reduced. Smart bonds (create smart contracts) When a certain transaction condition is met, both parties to the bond transaction complete the transaction according to the pre-agreed securities transaction price and transaction quantity. Such a contract is turned into code and written into the blockchain. Once the conditions are triggered, the blockchain system will automatically start the payment code of the smart contract, and the securities and other valuable assets involved will be automatically traded according to the contract and processed in real time. Complete clearing and delivery. It effectively simplifies the issuer's default behavior. Smart securities avoid the manual process of traditional financial transactions and save time and costs. Its design allows both parties to the securities transaction to no longer rely on third-party credit intermediaries. It also helps to speed up transactions while reducing costs. Human error and operational risk.

❹ This is what transactions on the blockchain are like

Transactions on the blockchain are actually very simple and not mysterious. To understand transactions on the blockchain, let me first look at a transaction in daily life.

What would happen if the payment method of this transaction was moved to the blockchain? Before talking about blockchain transactions, let’s briefly talk about blockchain transaction accounting.

1. What is blockchain

Blockchain is simply B’s ledger. A block is a page in this ledger, used to record transaction information. For example: On December 14, 2017, a computer was sold and a profit of 5,000 yuan was made. All blocks are strung together in order to form a blockchain, that is, a ledger.

2. Characteristics of blockchain

Blockchain is a distributed accounting network. If it is difficult to understand, you can compare it with Alipay, a centralized accounting network, as shown below: < /p>

The central approach is like having only one accountant. Only this accountant knows how the transaction is going. Distribution is like a bunch of people recordingThe same account, one transaction, everyone knows it. A relatively small group with only one person knowing the information. An information disclosure and transparency.

3. Blockchain transaction accounting

In Alipay’s centralized accounting network, transfers only require Alipay to confirm and record the transfer behavior, and then the transfer can be completed and recorded. .

In the blockchain of the distributed accounting network, each transfer transaction will be sent to each node and confirmed by them before the transfer can be completed and recorded.

To put it simply, one person has the final say in a centralized accounting network, while everyone has the final say in a distributed accounting network. If anyone lies or commits fraud, they will be able to spot it quickly because everyone has a copy in their hands. Exactly the same ledger.

If A chooses Alipay to transfer payment to B, the operation process is as follows: open Alipay -> click on transfer -> enter the other party's Alipay account -> enter the transfer amount -> click to confirm the transfer -> enter the password. Whoosh, the money was in account B.

If A chooses to pay B with BTC, if the current 1 BTC = 100,000 yuan, then A needs to pay 0.05+0.001 = 0.051 BTC to B, of which 0.001 BTC is the mining fee.

The operation process is as follows:

In terms of operation, the transfer process is similar. Maybe you don’t understand what an address is? What the hell is the mining fee? What are those 6 confirmation numbers? No rush, come one by one.

1. Blockchain address

The address can be understood as B's Alipay account. When A transfers money to B, he naturally needs to know the other party's "account number" so that he can transfer money there. The following is a BTC address:

It is a string composed of numbers and letters.

How is this address generated? It is generated by the public key through a one-way hash function. You can leave it alone and it is automatically generated. Unlike Alipay, you can choose the Alipay account name according to your personal preferences when applying for an account.

What else can the address be used for? To check the "account" balance and transfer transactions, you can check the balance and transfer records under any valid BTC address on the btc.com website, as shown in the following figure:

2. Transaction confirmation number

In the blockchain distributed accounting network, every transfer transaction is confirmed by a node in the network, and one transaction confirmation number is recorded. However, it will take a long time for the transfer to take effect only after confirmation from all nodes in the network. Therefore, in the BTC network, based on design calculations, when 6 transaction confirmations are obtained, the transaction can be considered very safe, the transaction takes effect, and the transferred BTC can be received.

3. Mining fees

Mining fees are the "tips" paid to the BTC network provider when A transfers money to B to encourage them to provide services for the BTC network. The "tip" can be adjusted. The more "tip" you give, the faster the transfer speed will be.

4. Transaction progress query

BTC transfer generally takes 0.5~1h. Faced with such a long time transfer, it is inevitable to check the transfer progress to comfort the anxious mood. How to check it? ?

You can query by address, as above. It can also be queried by TxID.

What is TxID? TxID is the abbreviation of transaction ID, which translates to: transaction ID.

When the transaction information is packaged and sent to the network, a TxID will be generated, but it is used to view transaction-related information, somewhat similar to a receipt. The status of any transaction ID can be queried through the btc.com website, as shown in the query result below:

At this point, you can easily transfer transactions on the blockchain, check account status and transfer progress.

This article is sponsored by bihu.com content support program rewards

❺ How blockchain empowers the transaction end

Blockchain technology can provide A more reliable, transparent and efficient trading method empowers the trading side. The following are some key points:
1. Decentralization: Blockchain technology allows the creation of a decentralized (not dependent on a centralized institution or third party) transaction end. Because all transactions are recorded on a distributed database and each transaction is verified, this means there is no single point of failure (such as a server crash) and transaction history cannot be tampered with.
2. Smart contracts: On the blockchain, smart contracts (automatically executed computer programs) can be created, eliminating the need to trust third-party intermediaries (such as banks or lawyers) and ensuring that all parties involved in the transaction are fully Comply with the terms of the contract. Since smart contracts have advantages in terms of trust and accuracy, they can reduce the number of disputes and effectively support transaction operations.
3. Improve transaction efficiency: Blockchain technology improves the processing speed of transactions. In traditional financial or trading systems, cross-border transactions may require confirmation by multiple banks, intermediaries and regulatory agencies, but with blockchain technology, all transactions can be processed in real time, and the time required to complete a transaction is greatly shortened.
4. Reduce costs: Blockchain technology can reduce transaction costs. In the traditional financial system, many transactions require certain fees to be paid to intermediaries or banks, and each intermediary needs to pay certain management fees. However, through blockchain technology, the number of intermediaries can be significantly reduced, making transactions cheaper and more economical.
To sum up, the main way in which blockchain technology empowers the transaction side is to provide decentralized mechanisms, smart contracts, increase transaction speed and reduce costs. With the new Internet, "blockchain+" has become an unstoppable trend, and there will be more and more practical application scenarios in the future.

❻ Blockchain digital currency exchange

Blockchain technology application research and development, exchange wallet system app development Blockchain technology is actually a new type of Internet. Why is it said to be a subversion of the Internet? Because the Internet solves the problem of information transmission, and the blockchain solves the problem of value transmission. Blockchain has many value transfers, such as distributed ledgers, decentralized trust, smart contracts, etc. So what kind of society will it build in the future?
The answer is: a distributed business and self-disciplined society. The first characteristic of blockchain is decentralization; no third-party intervention is required to realize person-to-person, point-to-point transactions and interactions.
Second, the information cannot be tampered with; once the data information is written into the block, it cannot be changed or revoked.
Third, openness and transparency; within a very short period of time, the block information will be copied to all blocks in the network to achieve data synchronization across the entire network, and each node can trace back all past transaction information of both parties.
Fourth, collective maintenance; in the entire blockchain network, all roles jointly maintain the reliability and security of the entire blockchain information.
Fifth, reliable database; only by mastering 51% of the nodes in the entire system can the blockchain information be tampered with. This is obviously impossible because there are many participants in the entire system and it is extremely costly to master so many nodes. It can't be achieved either.
The characteristics of blockchain bring great opportunities to the financial industry. Using it to transform internal application scenarios in the industry can bring three main benefits:
1) Reduce costs: communication Cost: Centralized trading markets generally require the participation and coordination of multiple parties such as central settlement systems, securities companies, exchanges, and banks. The coordination cost is very high. Through blockchain signature encryption and other technologies, information can be shared and coordination costs can be reduced; Operating costs: Reducing manual labor and paper vouchers, increasing automation through smart contracts, and centralized coordination also bring very high operating costs.
2) Improve efficiency: The settlement cycle is very fast. When the financial transactions realized through blockchain technology are confirmed, it is actually a settlement process that combines clearing, settlement and auditing. The openness, transparency and non-tamperability of the blockchain can save traces of operations, allow supervision records and audit traces to be retained, and facilitate supervision and auditing.
3) Risk reduction: Transaction confirmation on the chain completes clearing and calculation, greatly reducing transaction risks Blockchain technology application development, exchange wallet system app development
Social live broadcast software app development, blockchain By combining the advantages of IM products on the market in trading system development and further combining the characteristics of the blockchain industry, we found that the public has an urgent need for efficient information circulation.The demands mainly come from two different types of groups, project parties and ordinary users, and traditional IM software has been unable to meet their basic needs. For the project side, they hope to have a convenient and efficient tool that can manage a large number of community users, communicate with them accurately and efficiently, and also use the platform to conveniently carry out a series of marketing activities such as airdrops and rewards. For ordinary users, on the one hand, they need to communicate with other users, and they also hope to get direct access to the project party to obtain first-hand project information. At the same time, in view of the protection of personal privacy, security during the message transmission process is also crucial. It would be perfect if you could still gain benefits from this type of participation. How Blockchain benefits us through Blockchain Development Services: Reliable System: When we build data structures using Blockchain, it enables us to make and verify transactions without involving any third party. Therefore, the risk of fraudulent and backdoor transactions as well as inauthentic transactions is reduced. Furthermore, modifications to historical data can only be perceived when a large team is working simultaneously across data centers. In this way, it greatly reduces the possibility of adjusting data and forms a strong ecosystem. Transparent system: Using distributed ledger technology, users have control over all transactions and information because the data in the blockchain is complete, accurate, tamper-proof, and consistent with all members of the network. Mitigating fast transactions: Physical marketplaces with digital documents also take time to execute transactions. Interbank transactions also take a lot of time to clear and time to settle. Here, blockchain can make this a 24/7 process while reducing transaction time to seconds. Instant pay could completely revolutionize industries like energy and transportation. So save wealth by reducing back-office work and automating.