The future of Blockchain technology

What is Blockchain?

The term blockchain has been used in numerous social and corporate conversations in recent years and it seems like everyone has heard of blockchain technology, but most of the population has no idea what it really means.

So that we can clearly explain what blockchain technology really means, let us give you a brief breakdown of the history of how the money transaction has evolved. Historically, whenever people used to exchange valuables, there were intermediaries whose sole purpose was to record the authenticity of both parties and build trust between them. These media are now 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, the need for a safer method has emerged. This is because digital assets are usually files within a computer that are therefore vulnerable to manipulation and theft. Thus, the use of blockchain technology allows the parties to make transactions in an open and transparent manner, ensuring that the exchange is secure and efficient.

The future of Bitcoin

Blockchain has the ability to completely disrupt the financial sector in the same way that social media disrupted conventional media or in the same way that Netflix destroyed Blockbuster movies. Blockchain technology has the potential to be used as a platform that offers financial services to everyone in the world, this includes people in developing countries who may not have access to traditional banking services and cannot pay the necessary fees to make large transactions. . This technology has the potential to make great strides in almost every major industry that is often handled by large corporations.

The use of Blockchain technology in education

Blockchain technology in education can be used to find out which students really need scholarships and who can afford them. This is because a number of students have been bypassing the system and getting funding. In reality, this would end up hurting needy students who end up dropping out or accumulating a lot of debt that makes them almost work.

Eventually, a large number of the population may be hiding their heads in the sand as they want the blockchain to disappear, but this piece of technology is definitely not going anywhere. In the near future, we will all trade with blockchain as part of our daily activities, our great-grandchildren will read about money and ATMs in the same way we read about barter and gold trading. Therefore, it is imperative that we get in the car as soon as possible and that we adjust before we are forced to adjust.