The definition of blockchain has been used in several social and corporate conversations in recent years and everyone seemingly have heard about blockchain technology, but most the people actually doesn’t have idea what it really means.
To ensure that us to clearly explain what blockchain technology actually means allow us to provide you with a brief breakdown about the real history of the way the blockchain transaction of money has evolved. Historically whenever people used to change valuable items there were middle men whose sole purpose was to record the authenticity of both parties and build trust between them. Currently these middle men are known as banks. The usage of banks and brokers has continued with time and with the emergence of digital assets like stock, electronic money, and intellectual property the need for a better method has emerged. The reason being digital assets are often files inside a computer that are therefore at risk of manipulation and theft. Thus the usage of the blockchain technology enables parties to transact openly and transparently ensuring that the exchange is secure and efficient.
The Future of Bitcoin
Blockchain has the ability of completely disrupting the financial industry the exact same way social media marketing disrupted mainstream media or the exact same way Netflix destroyed Blockbuster films. Blockchain technology has got the potential to be used as a platform that provides financial services to everyone on the the main world, this includes people in developing countries who may not need the access to traditional banking services and cannot afford the rates required to make large transactions. This technology has got the potential of earning major breakthroughs in almost all major industries that are usually manipulated by big corporations.
The usage of Blockchain technology in Education
Blockchain technology in education may be used to find out the students which in fact need the scholarships and those that are able to afford it. The reason being a couple of students have been bypassing the device and getting financing. This would actually become detrimental to the needy students who wind up dropping out or accruing lots of debt that creates them to benefit nearly.