as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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what is the main purpose of blockchain technology?
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the main purpose of blockchain technology is to serve as a distributed ledger that enables trustless and secure transactions between parties. the trustless nature of blockchain technology is achieved through cryptography, which prevents data tampering and unauthorized access. this technology allows data to be stored in a secure public database, increasing the efficiency, transparency and security of transactions.
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