What is Blockchain?
The term blockchain has been used in numerous social and corporate conversations in recent years and everyone seems to have found out about blockchain technology, but a lot of the populace actually has no idea what it really 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 change 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 utilization 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 better method has emerged. The reason being digital assets usually are files inside a computer which can be therefore vulnerable 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 capability of completely disrupting the financial industry the exact same way social networking disrupted mainstream media or the exact same way Netflix destroyed Blockbuster films. Blockchain technology has the potential to be used as a platform that delivers financial services to everyone on the area of the world, including people in developing countries who may not have the use of traditional banking services and cannot afford the rates required to create large transactions. This technology has the potential of earning major breakthroughs in almost all major industries which can be usually manipulated by big corporations.
The utilization of Blockchain technology in Education
Blockchain technology in education can be used to determine the students that actually need the scholarships and those that can afford it. The reason being a couple of students have already been bypassing the system and getting financing. This would actually become detrimental to the needy students who end up dropping out or accruing plenty of debt that triggers them to work for nearly.