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This blockchain technology is more commonly known as the technology behind virtual currencies such as bitcoin, ethereum, ripple, and so on. However, actually blockchain technology can be widely utilized to advance businesses and companies.

For example, Singapore is utilizing blockchain technology to assist in terms of business activities at the port. This technology can be utilized to shorten the waiting period of the ship or dwell time, also to verify transactions related to export and import.

"The company can do smart contract with blockchain technology for export and import," said Leonard Nugroho, Managing Director of Technology Consulting Lead Accenture Indonesia in Jakarta, Tuesday (6/3/2018).

Leonard said, blockchain technology can also be utilized by the banking industry and financial technology (financial technology / fintech). With this technology, the two financial industries can easily perform verification and payment transactions.

Read also: BI Called Will Assess the Utilization of Blockchain Technology

Nevertheless Leonard revealed, it has not been able to ensure blockchain technology is commonly used by the banking industry. However, he believes there are many fintech companies that use the technology.

Even so, Leonard also admitted there are still many parties who doubt with blockchain technology. How not, this technology is closely related to virtual currency alias cryptocurrency.

In addition, blockchain technology is also often questionable validity. In fact, blockchain technology is actually quite valid and secure.

Just for information, blockchain technology serves to record transaction data. Transaction records are incorporated in many interconnected and secure blocks.

Blockchain technology is claimed to be potentially and suitable for recording multiple data, not just virtual currency. Business activities, transaction processing, documentation, to voting are assessed to be benefited when utilizing this technology.