This PPT slide, part of the 87-slide Digital Transformation: Blockchain Technology PowerPoint presentation, outlines the blockchain transaction process between 2 parties, structured into 3 distinct phases: Encryption, Validation, and Distribution. Each phase is visually represented, providing a clear understanding of how transactions are executed using distributed ledger technology.
In the first phase, Encryption, the transaction is added to an online ledger, secured by a digital security code. This step emphasizes the importance of data protection and integrity right from the outset, ensuring that sensitive information is safeguarded before it enters the broader network.
Moving to the second phase, Validation, the transaction code is sent to a large network for confirmation. This process is crucial as it allows the transaction to be verified without revealing private information. Notably, this phase also highlights the elimination of the need for a central authority, which is a key feature of blockchain technology. It underscores the decentralized nature of the system, which can enhance trust among participants.
Finally, in the Distribution phase, once the transaction is confirmed by multiple parties, it is recorded on each participant's ledger. This creates a permanent and unchangeable record, ensuring transparency and accountability. The slide concludes by noting that the transaction information is finalized, marking the completion of the process.
Overall, this diagram serves as a concise yet comprehensive overview of how blockchain transactions operate, illustrating the critical steps involved in ensuring security, validation, and distribution. For potential customers, understanding this process is essential for grasping the value and functionality of blockchain technology in their operations.
This slide is part of the Digital Transformation: Blockchain Technology PowerPoint presentation.
This presentation is created by former McKinsey, BCG, Deloitte, EY, and Capgemini consultants based on the Blockchain thought leadership global consulting firms.
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