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Simply put, a blockchain can be considered to be a distributed ledger which contains the relevant details for every transaction that has ever been processed.

Simply put, a blockchain can be considered to be a distributed ledger which contains the relevant details for every transaction that has ever been processed. Conduct a desktop research and based on this research:

i. Define blockchain technology, including its basic structure; ii. Describe the current and potential uses of this technology by business; iii. Given (i) and (ii) above, what impact will this technology have on the traditional audit process?

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