What is Blockchain?
The term blockchain has been used in many social and corporate conversations in recent years, and everyone seems to have heard of blockchain technology, but most people don’t really realize what it really means.
In order for us to clearly explain what blockchain technology actually means, let us give you a brief overview of the history of how money transactions have evolved. Historically, whenever people exchanged valuables, there were average people whose sole purpose was to capture the authenticity of both parties and build trust between them. Today, these average people 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, there has been a need for a more secure method. This is because digital assets are usually files in a computer that are thus vulnerable to manipulation and theft. Thus, the use of blockchain technology allows the parties to make transactions openly and transparently, ensuring that the exchange is secure and efficient.
The future of Bitcoin
Blockchain has the potential to completely destroy the financial industry just as social media disrupts major media or in the same way that Netflix destroyed Blockbuster movies. Blockchain technology can be used as a platform to provide financial services to everyone in the world, including people in developing countries who may not have access to traditional banking services and cannot afford the stakes needed to make large transactions. . This technology is capable of making major breakthroughs in almost all major industries commonly manipulated by large corporations.
The use of Blockchain technology in education
Blockchain technology in education can be used to find out students who really need scholarships and those who can afford it. This is because several students bypassed the system and received funding. This will actually be detrimental to needy students who end up dropping out of school or accumulating more debt, making them almost work.
Finally, huge numbers of people now can bury their heads in the sand because they want the blockchain gone, but the technology is definitely going nowhere. In the near future we will all trade using the blockchain as part of our daily activities, our great-grandchildren will read about money and ATMs just as we read about barter and gold. It is therefore very important that we jump on the step as quickly as possible and tune in before we have to adjust.