ABSTRACT
The blockchain concept relies on cryptography that links the blocks and each block holds the cryptographic hash of a previous block and timestamp along with data to be transferred. Blockchain is an emerging technology which has gained interest from various sources like energy industries, startups, financial institutions, supply firms, national and international governments, and so on. These sources are aiming, from different backgrounds such as voting, taxation and land registration, to identify blockchain, which has potential drives to bring substantial welfares and innovation. The blockchain helps people to keep data secure by allowing health record data to be moved whenever they need without any illegal activities like forgery, theft and malice. The chapter provides information on the latest digital payments. It focuses on the operative mechanism of Bitcoin, blockchain technology and describes the scope of this application. Bitcoins are transactions stored in encrypted form with certain conditions for financial transactions.
