Blockchain
Blockchain is a technology used for digital interactions and serves as the underlying component of cryptocurrencies. A blockchain is a distributed ledger maintaining transactional records which are grouped into interconnected blocks. The blocks include unique identifiers based on the data of the previous block. If the data are changed in one block, its identifier changes, which then changes every subsequent block. This effect makes blockchain tamper resistant since the network is difficult to alter, providing a resilient method of record keeping.
Blockchain has potential uses in the transmission of customs data, allowing parties throughout the supply chain to provide data while ensuring the integrity of that data. However, CBP began moving away from blockchain technology specifically in 2021, instead exploring uses of distributed ledger technology in general and placing a focus on interoperability.
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