What is Blockchain?
The definition of blockchain has been used in several social and corporate conversations recently and everyone seemingly have learned about blockchain technology, but a lot of the people actually has no idea what it actually means.
To ensure that us to clearly explain what blockchain technology actually means allow us to offer you a brief breakdown about the history of how the blockchain transaction of money has evolved. Historically whenever people used to exchange valuable items there have been middle men whose sole purpose was to record the authenticity of both parties and build trust between them. Currently these middle men are referred to as banks. The usage of banks and brokers has continued over time and with the emergence of digital assets like stock, electronic money, and intellectual property the need for a more secure method has emerged. The reason being digital assets usually are files within a computer which are therefore at risk of manipulation and theft. Thus the utilization 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 power of completely disrupting the financial industry exactly the same way social media marketing disrupted mainstream media or exactly the same way Netflix destroyed Blockbuster films. Blockchain technology has got the potential to be used as a platform that delivers financial services to everyone on the the main world, including people in developing countries who may not have the usage of traditional banking services and cannot spend the money for rates required to create large transactions. This technology has got the potential of making major breakthroughs in nearly all major industries which are usually manipulated by big corporations.
The usage of Blockchain technology in Education
Blockchain technology in education may be used to figure out the students that truly need the scholarships and those that are able to afford it. The reason being a few students have been bypassing the machine and getting financing. This could actually become detrimental to the needy students who wind up dropping out or accruing plenty of debt that triggers them to benefit nearly.