Brought to prominence by cryptocurrencies, the blockchain architecture appears as a secure alternative to centralized database systems. It can store transactions like goods movements along a supply chain using a never-ending sequence of encrypted, digital data blocks.
This technology is particularly manipulation-proof as blocks are verified by several participants in a decentralized blockchain database, rather than by a single authority.
Trust is therefore an integral advantage of this technology and it can render intermediaries like banks and state institutions obsolete. It can be regarded as a central enabler for smart-contract deals in which transactions like the release of goods or payments are automatically triggered along the lines of if-then logic.