'Bit coin is not close' comes the era of the block chain

The attention that has been focused on the virtual money bit coin is shifting to the original block chain.

The block chain is considered to be the representative technology of the 4th industrial revolution era, in which data can be managed more efficiently by managing vast amounts of data. Domestic and foreign companies and public institutions are also jumping into the block-chain business.

A block chain, called a digital public record, distributes and stores data in a form of a block and shares it with those involved in the transaction. Because it is not a centralized system, there is little risk of hacking, stolen or tampered, and transactions are possible without a third intermediary.

In addition, it is possible to set conditions so that the contract can be automatically executed, which is effective for repetitive tasks such as claim charging and self-certification.

With low transaction costs and high confidence in information, the Davos Forum predicted that 10% of the world's gross domestic product (GDP) would be stored as a block-chain technology in 2027