As the fame of Bitcoin and other digital currencies started increasing, blockchain, the technology behind it started getting noticed by the world. However, it didn’t take long for innovators to realise that the unique decentralised nature of blockchain was something that could translate to other business use cases. “Decentralisation” describes how the collection of computers or nodes involved in a blockchain are not all under one roof. Instead, each is operated by an individual or group of individuals. Each node has a full record of all data in the blockchain, so no one individual can alter information or delete transactions. This removes any reliance on third party intermediaries.  Because of this, we see a whole host of business benefits. For example: New levels of transparency in processes More security and less risk of fraud Human error is eliminated Sensitive data can be safely stored Transactions are much faster  Transactions are cheaper – Accenture reported that blockchain could reduce infrastructure costs for the world’s largest investment banks by 30% Parties can interact without knowing or trusting each other People can easily launch products on the blockchain