What is blockchain?

The term blockchain has been used in many social and corporate conversations over the past few years and everyone seems to have heard of blockchain technology, but most of the population has no idea what it actually means. You can also read more about blockchain via https://www.supercolony.net/. 

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In order to explain to you what blockchain technology really means, we will provide you with brief information about the history of the development of money transactions. In the past, whenever people exchanged valuables, there was an intermediary whose main purpose was to feel the authenticity of both parties and build trust between them. Today these intermediaries are known as banks. The use of banks and brokers has continued over time, and with the advent of digital assets such as stocks, electronic money, and intellectual property, the need for more secure methods has emerged. This is because digital assets are usually files on a computer, making them vulnerable to tampering and theft. In this way, the use of blockchain technology allows the parties to conduct transactions in an open and transparent manner to ensure a safe and efficient exchange.

Future of bitcoin

Blockchain has the ability to completely destroy the financial industry, just as social media destroys mass media or like Netflix destroys blockbuster movies. Blockchain technology has the potential to be used as a platform that provides financial services to everyone in the world, including people in developing countries who may not have access to traditional banking services and who cannot afford the interest rates required for large transactions. This technology has the potential to make major breakthroughs in almost any major industry that is usually manipulated by large corporations.

Posted in Business And Management