The Future of Blockchain Technology

The term blockchain has been thrown around in many social and business conversations over the past few years, and everyone seems to have heard of blockchain technology, but most of the population doesn't know what it actually means.

To clearly explain what blockchain technology really means, we will give you a brief summary of the history of the development of money trading. Historically, whenever people exchanged valuables, there were intermediaries whose sole purpose was to capture the authenticity of both parties and build trust between them. These intermediaries are now known as banks. The use of banks and brokers continued over time, and with the emergence of digital assets such as stocks, electronic money and intellectual property, there was a need for a more secure method. This is because digital assets are usually files on a computer, which are therefore vulnerable to manipulation and theft. Thus, the use of blockchain technology enables open and transparent business between parties, ensuring the security and efficiency of the exchange.

Blockchain has the ability to disrupt the financial industry in the same way that social media disrupted mainstream media or Netflix destroyed Blockbuster movies. Blockchain technology can be used as a platform to provide financial services to anyone around the world, including people in developing countries who may not have access to traditional banking services and cannot afford the interest rates required for large transactions. . This technology has the potential to make major breakthroughs in almost all major areas that are usually handled by large corporations.