Why is Blockchain technology important?

Let’s say a new technology is being developed that could allow many parties to make a real estate transaction. The parties meet and complete details on the schedule, special circumstances and funding. How will these parties know that they can trust each other? They should verify their agreement with third parties: banks, legal teams, government registry, etc. This brings them back to the starting point when it comes to using technology to save costs.
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In the next stage, third parties are now invited to join the real estate transaction and make their contributions while the real-time transaction is created. This significantly reduces the role of the intermediary. If the agreement is so transparent, the middleman can even be removed in some cases. Lawyers are there to avoid misinformation and lawsuits. If the terms are revealed in advance, these risks are greatly reduced. If the financing agreements are secured in advance, it will be known in advance that the agreement will be paid and the parties will honor their payments. This brings us to the last stage of the example. If the terms of the agreement and agreements have been completed, how will the agreement be paid? The unit of measurement would be a currency issued by a central bank, which means dealing with banks once again. Should this happen, the banks would not allow these operations to be completed without some sort of due diligence and this would involve costs and delays. Is technology useful for creating efficiency up to this point? Not likely.
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What is the solution? Create a digital currency that is not only as transparent as the agreement itself, but is in fact part of the terms of the agreement. If this currency is exchangeable with currencies issued by central banks, the only remaining requirement is to convert the digital currency into a currency known as the Canadian dollar or the US dollar, which can be made at any time.
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The technology alluded to in the example is blockchain technology. Trade is the backbone of the economy. A key reason money exists is for trade. Trade constitutes a large percentage of activity, production, and taxes for various regions. Any savings in this area that can be applied worldwide would be very significant. As an example, look at the idea of ​​free trade.
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Before free trade, countries would import and export with other countries, but they had a tax system that would tax imports to restrict the effect that foreign goods had on the local country. After free trade, these taxes were eliminated and many more goods were produced. Even a small change in trade rules had a great effect on world trade. The word trade can be broken down into more specific areas such as shipping, real estate, import / export and infrastructure and it is more obvious how lucrative the blockchain is if it can save even a small percentage of costs in these areas.
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