A Study On The Block Chain Technology And It’s Awareness On Business And Industry

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Dr.Gowsya Shaik, Prof. T. Satish Kumar

Abstract

The main concept of this paper is to define the modernization of traditional process and service industries, organization of trading and procurement procedure, related financial and logistical operation, change in the structure of consumption associated with the information technologies and digitalization of economic processes that creates the basis for formation of new markets conditions. Currently the digital economy is included in the list of the main aspects of the strategies development in Russia and many foreign countries. The block chain is a technology that is at the top of entire digital economy.The subject of research is not only this technology but also its commercial exploitation.The basic hypothesis is that block chain has achieved a great impact on financial sector, also it has the potential to radically change only the financial sector but also the way we buy and sell, our interaction with the authorities as a way of verifying the ownership from the authorship and the organic food production.

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