Abstract: The aim of blockchain technology is providing transparency. Therefore, although blockchain does not ensure security of data, there exists no reason why any action should be regarded as fraudulent. With its wide application in various fields, including finance, banking, e-commerce and even public administration, it has become necessary for many organizations in different industries to adopt it as the best approach to solving problems and making decisions. Many businesses and individuals are realizing that blockchain makes it possible for them make business transactions faster and easier to carry out. This helps them save money compared to traditional financial institutions.