What is a blockchain?
The term blockchain has been used in numerous social and corporate conversations in recent years, and everyone seems to have heard of blockchain technology, but most of the population does not know what it really means.
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Blockchain technology allows us to give you a brief overview of the history of how money transactions evolved to clearly explain what it means. Historically, whenever people exchanged valuables, there were middle men whose sole purpose was to record the truth of both sides and to build trust between them. At present these middle people are known as banks. Banks and brokers continue to be used over time, and with the rise of digital assets such as stocks, electronic money and intellectual property, more secure approaches are needed. This is because digital resources are usually files in a computer which is therefore risky for manipulation and theft. Thus the use of blockchain technology enables the parties to transact openly and transparently and ensures that the exchange is secure and efficient.
The future of Bitcoin
Blockchain has the potential to completely disrupt the financial industry the way social media disrupted mainstream media or the way Netflix destroyed blockbuster films. Blockchain technology has the potential to 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 rates required to make large transactions. . This technology has great potential for success in almost all large industries that are usually run by large corporations.
Use of blockchain technology in education
Blockchain technology can be used in education if students really need the scholarship and who can afford it. This is because some students are bypassing the system and financing. This will actually be detrimental to the needy students who eventually drop out or accumulate a lot of debt which forces them to work for almost.
After all, huge populations may now be hiding their heads in the sand because they want to get out of the blockchain, but this piece of technology is definitely not going anywhere. In the near future we will all trade using blockchain as part of our daily activities. Our grandchildren will read about money and ATM machines just as we read about exchange trade and gold. So it is imperative that we jump on the bandwagon as soon as possible and adjust before being forced to adjust.