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What is blockchain?
The term blockchain has been used in many social and corporate conversations over the past few years and everyone seems to have heard of blockchain technology, but most of the population has no idea what it actually means.
In order to explain to you what blockchain technology really means, we will provide you with brief information about the history of the development of money transactions. You can also get more info about blockchain via https://www.supercolony.net/.
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In the past, whenever people exchanged valuables, there was an intermediary whose main purpose was to feel the authenticity of both parties and build trust between them. Today these intermediaries are 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 more secure methods has emerged. This is because digital assets are usually files on a computer, making them vulnerable to tampering and theft. In this way, the use of blockchain technology allows the parties to conduct transactions in an open and transparent manner to ensure a safe and efficient exchange.
Future of bitcoin
Blockchain has the ability to completely destroy the financial industry, like social media destroying mass media or like Netflix destroying blockbuster movies. Blockchain technology has the potential to be used as a platform that provides financial services to everyone in the world, including people in developing countries who may not have access to traditional banking services and who cannot afford the interest rates required for large transactions. This technology has the potential to make major breakthroughs in almost any major industry that is usually manipulated by large corporations.