What is blockchain in SAP SAP-GLOSSARY - Corporate Glossary?

SAP Term: blockchain

• Component: SAP-GLOSSARY

• Component Name: Corporate Glossary

• Description: SAP Annual Integrated Report Based on distributed ledgers, blockchain technology securely records information across peer-to-peer networks. This intelligent technology is still developing and areas for business application are growing. SAP also offers blockchain services.

Smart SAP Assistant

• Key Concepts: 
  Blockchain is a distributed ledger technology that enables secure, transparent, and immutable transactions. It is a decentralized system that records and stores data in a secure and immutable way. It is used to create a digital ledger of transactions that can be shared among multiple parties. 
  
  How to use it: 
  SAP has developed its own blockchain platform, SAP Cloud Platform Blockchain, which enables businesses to securely store and share data across multiple parties. This platform can be used to create distributed applications (DApps) that can be used for various business processes such as supply chain management, asset tracking, and digital identity management. 
  
  Tips & Tricks: 
  When using SAP Cloud Platform Blockchain, it is important to ensure that the data stored on the blockchain is secure and immutable. This can be done by using encryption techniques such as hashing and digital signatures. Additionally, it is important to ensure that the data stored on the blockchain is accurate and up-to-date. 
  
  Related Information: 
  SAP has developed several tools and services to help businesses get started with blockchain technology. These include SAP Leonardo Blockchain, SAP Cloud Platform Blockchain, and SAP HANA Blockchain Services. Additionally, SAP has partnered with several companies to provide blockchain solutions for various industries such as healthcare, finance, and logistics.