Greater awareness and understanding of blockchain technology could help businesses save money and improve transparency with consumers.Blockchain technology is best known for underpinning cryptoassets, such as bitcoin, but the technology can also be used to improve transparency within businesses.
Blockchain is a digital record of data that is not controlled or managed by a central authority. The technology could be used by export businesses to track and authenticate a product as it moves through a supply chain. It could also save firms money on compliance costs.
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