Transparency, trust, anonymity & security are four key elements of blockchain technology. Blockchain solutions have the potential to make operations more efficient and improve the quality of services delivered, while at the same time increasing trust.
Being a ledger, blockchain can record important transactions that are immutable (can't be tampered). A blockchain is inherently public and is visible to everyone in the network bringing in the element of transparency.
Blockchain can be designed to keep minimal information to connect the records with other entities, to as simple as just a random string (address), thus bringing in more anonymity than in a centralised system.
And finally being trustable & immutable is also a key requirement for security of voluminous data that information technology solutions operate on today and blockchain seamlessly integrates in these scenarios.
From public utilities, governments, large businesses to startups, blockchain technology brings enormous benefits. Making headlines today are blockchain based solutions for digitising land ownership records, public transactions like ownership transfers, managing and tracking processes like federal taxes, passports & patents.