What is Blockchain?
The term blockchain has been used in numerous social and corporate conversations lately and everyone appears to have found out about blockchain technology, but a lot of the people actually does not have any idea what it really means.
In order for us to clearly explain what blockchain technology actually means allow us to offer you a brief breakdown about the real history of the way 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 known as banks. The usage of banks and brokers has continued with time and with the emergence of digital assets like stock, electronic money, and intellectual property the requirement for a more secure method has emerged. The reason being digital assets are usually files inside a computer which can be therefore susceptible to manipulation and theft. Thus the usage 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 the same way social media marketing disrupted mainstream media or the same way Netflix destroyed Blockbuster films. Blockchain technology has the potential to be used as a platform that provides financial services to everyone on the part of the world, including people in developing countries who may not need the access to traditional banking services and cannot pay the rates required to make large transactions. This technology has the potential of creating major breakthroughs in the majority of major industries which can be usually manipulated by big corporations.
The usage of Blockchain technology in Education
Blockchain technology in education can be used to find out the students which actually need the scholarships and those that can afford it. The reason being a couple of students have been bypassing the device and getting financing. This would actually turn out to be detrimental to the needy students who end up dropping out or accruing plenty of debt that triggers them to work for nearly.