In recent years, Blockchain technology has emerged as a hot trend worldwide. Bitcoin is the first application of Blockchain technology, and its application in various industries such as finance, manufacturing, commerce, energy, etc., has brought about significant achievements in revenue and kept pace with the changes of the fourth industrial revolution.

Blockchain is a technology that encrypts all data into blocks and connects them together to form a long chain. Each time new information or a transaction occurs, the old information is not lost; instead, the new information is stored in a new block and sequentially linked to the old blocks to create a new chain.

Furthermore, Blockchain information is not only stored on a single server but also automatically distributed and backed up on multiple different servers connected to the Blockchain system so that everyone can view and verify their transactions. This can prevent tampering or fraud and ensure transparency and information security.

The Blockchain technology system is divided into three main types:

1. Public: Everyone has the right to read and write data. The transaction verification process requires thousands or even millions of nodes to participate. Therefore, hacking this system is quite difficult due to the high cost.
2. Private: Users only have the right to read data. This organization may or may not allow users to read data in some cases. Since this is a Private Blockchain, the transaction confirmation time is relatively fast because it requires a small number of devices to participate in transaction verification.
3. Permissioned: A form of private blockchain with additional specific features.

Global Newswire's Global Blockchain Market Report for 2021 forecasts that the global Blockchain technology market is expected to reach $72 billion by 2026, with a market growth rate of 51.8 percent.