Blockchain Business Logic

One of the major areas where blockchain technology will make its biggest impact is that of business logic. Business logic is the part of computer software that operates within the real-world business rules that regulate how data can be created, stored, and changed. By enforcing the routes and the methods by which data is accessed and updated, business logic validates and executes the correct business processes behind the scenes. This often means data being routed to people or software which then completes the final step in the process of business.

While there is practically an infinite amount of circumstances where data needs to be created, stored, and changed, some data only requires creation and storage. Modifying the specifics of data, depending on the motives or reasons, can sometimes be malicious. This kind of data manipulation can lead to sensitive information being shared, or even used in ways that are unethical or illegal.

Utilizing blockchain technology causes the further manipulation of created data to be abruptly halted as blocks of data are sealed by the public network of verifying nodes. This method of recording and storing data allows little to no room for human error or manipulation as blocks are connected together one after another. To make a change to data that is on chain within a block requires further manipulation of every preceding block before it. This task is ultimately unachievable as 51% of all other verification nodes within the blockchain itself would have to reach an agreed consensus that the change to the information.

Business logic then could utilize blockchain technology to further the accuracy and security of data across a vast amount of industries, and execute business rules while providing arguably the most valuable asset in any business — trust.

Trust is the engine of economy, money may be the means, but without a buyer trusting a seller transactions cease to exist.