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How Blockchain Technology is Connecting the world Financially

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Could Blockchain Technology Replace Banks?


A Blockchain is a transaction database shared by all nodes participating in a system based on the bitcoin protocol. 

A full copy of a currency’s blockchain contains every transaction ever executed. 

With this information, anybody who has a valued account can easily find out how much value belongs to each wallet at any point in history.

Man trading Blockchain
Blockchain 


Although blockchain is a new technology, it is already becoming the preceding foundation of the future of everything. It is like the internet of money.

Some people or should I say many people have been made rich and healthy with this awesome technology.

Since blockchain is more like the future of money. Many companies have been involved in blockchain technology.

This platform is so new that they are constantly updating their platform. Which has helped to trade and invest easily.

 Just a little tease

You shouldn’t stress enough to use a blockchain when using a company that is involved in the blockchain. You could earn up a list of problems. 

According to research carried out by prudentj2; in 2018, the blockchain market grew to 7 billion dollars and by 2024...it is expected to reach a milestone of 60 billion dollars.

Blockchain statistics


Also, blockchains have the power to change our lives. It potentially enables us to stop worrying about trust and make trust obsolete.

To replace the third party with trustless cooperation. To ensure that no one can take advantage of the other. To create a highly competitive market of value.


It is true and good to know that the number of cryptocurrencies has grown by a factor of 10 in just a year.

You see; blockchain is a new technology and could be the way for everyone to get rich. 

Believe it or not, the blockchain is the future we've been seeking, and it will revolutionize speculation.

Blockchains uses are endless

It isn't limited to financial reasons only. It can be used for voting. Used for operations of the state. And used for games with no cheat. 

Let me shock you;

Many companies are experimenting with blockchain. one interesting example is the company called ‘’slock it’’. Which has developed a special blockchain-based solution called ‘’DAO’’ for organizing and running companies without the use of any traditional bosses and managers.

In fact, blockchain can be applied to different areas such as law, medicine, music e.t.c.

Of course, blockchain is becoming a very popular technology for start-ups. This is because it can help companies raise funds from investing. 

In addition, the blockchain can be used to create a tamper-proof resistance of string values. It is also very good at preserving expensive digital assets.

Blockchain is connecting the world


More insights on blockchain

Some people see blockchain as a distributed online ledger technology. which is revolutionary because it allows for direct exchange between two parties. Without the need for a trusted third party.

Blockchain technology has the potential the world needs to acquire, for a better world ahead of us. A world with a financial system that is far more secure and efficient than the one we have today.

It is very important to note that blockchain technology allows for a second transaction, without the intervention of any central authority.

As a decentralized public ledger. All bitcoin or any other current transaction that has been executed is always recovered.


A blockchain is a decentralized online ledger that records transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network.

With the rise in popularity of Bitcoin, blockchain technology has been the buzzword of the past few years. The popularity of cryptocurrencies such as Bitcoin and Ethereum has created a vast market for blockchain-based application development. Blockchain is the backbone behind virtual currencies and is responsible for maintaining a public, tamper-proof ledger of all transactions. The blockchain is continuously growing as completed blocks (the most recent transactions) are recorded and added to it in linear, chronological order.


Reasons Why You Should Learn About The BlockChain



The blockchain is the technology that makes cryptocurrencies like Bitcoin work. It is an indelible record of transactions that can be shared across computers on the web. A block is the “current” part of a blockchain that records some or all of the recent transactions, and once completed goes into the blockchain as a permanent database.

Blockchain is a structure used in a data structure. It is a link to a chain of blocks. The chain of blocks stores all sorts of data in a chronological manner. The blockchain is a physical representation of a list of records or transactions. This chain is linked such that modification of such ledgers is very hard and time-consuming.


According to many experts, Blockchain is the future of the internet. With the growing popularity of this technology -- and the growing number of people starting to use it -- we're bound to hear a lot more about this.


How Has Blockchain Technology Improved The Field Of Banking?

Since the creation of Bitcoin in 2008, its popularity has grown enormously. It started with the trading of Bitcoin and trading was done online. There are many efficient technologies in Blockchain.

Banking has been a major part of life for a long time. From exchanging goods through barter to using paper money and electronic money, both public and private institutions have been getting involved in the field of finance for a long time. In 2017, a new groundbreaking technology of blockchain has been introduced. In this article, we will find out how blockchain technology has improved the field of banking.

The implementation of this new invention is set to improve the banking industry in various ways. From making transactions faster to creating more transparency and security for all parties involved, cryptocurrency technology is offering peace of mind and a new level of accessibility for all.

Why the Blockchain Technology Will Change Our Lives

Today, I believe we've made a brief overview of why this technology will change our lives in the future.


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