SOLUTION: UC Impact of Blockchain in The Manufacturing Industry Research Paper

Attached. Please let me know if you have any questions or need revisions.1Impact of Blockchain in the Manufacturing IndustryName:Institution:Course Number:Course Name:Instructor’s Name:Date:2IntroductionBlockchain is a decentralized database that saves information, and it is hard to change thestored data (Nofer, et al., 2017). Blockchain uses the distributed ledger technology wherebytransactions are stored in different servers in different locations making it hard to changeinformation in the database. Transactions are stored in a decentralized database whereby separateservers store a duplicate of the transaction (Nofer, et al., 2017). Blockchain technology istransactions being stored in a block, and once the block is full, it is added to the chain. Eachtransaction has a hash value, and once someone tries to change the information in the transaction,the transaction gets a new hash value that is not the same in all the other servers. Once atransaction gets a new hash number in one of the servers, the other servers notice the change andrefuse to record the change, and return the transaction to its default (Nofer, et al., 2017). Thismakes it hard for hackers to change information that is stored in a blockchain database.Benefits of Using Blockchain in Any BusinessBlockchain allows for greater transparency in a company because information cannot bemodified (Nofer, et al., 2017). This makes information to be freely available and enhancesintegrity and accountability in the company. Another benefit of using blockchain is increasedsecurity. It is hard for hackers to access company information and change the data. Blockchainsaves each t…

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