Blockchain is often associated with bitcoin and the financial services industry. however, it is applicable to almost every industry. the term multi-party systems better describes how the blockchain system is used. what is a benefit of a multi-party system?
a. organizations who participate must share data from the same location.
b. the system now owns the data and can share it as needed.
c. it can help businesses unlock the trapped value of their data.
d. more employees can be hired to process the data.

Data can be defined as a representation of factual instructions (information) in a formalized and structured manner, especially as a series of binary digits (bits) that are used on computer systems in a business organization for day-to-day activities.

What is a blockchain?

A blockchain can be defined as a digital, financial system that is designed and developed to be used in recording and maintaining transactions that are associated with or made through the use of a bitcoin.

In this context, we can infer and logically deduce that the benefit of a multi-party system in the use of a blockchain is that the data is now being owned by the system and as such, it can share it as needed.

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