The future of blockchain technology

What is Blockchain?

The term blockchain has been thrown around a lot of social and corporate conversations in recent years, and it seems like everyone has heard of blockchain technology, but the majority of the population actually has no idea what it actually means.

So that we can clearly explain what blockchain technology actually means, let us give you a brief breakdown of the history of how the transaction of money has evolved. Historically, whenever people exchanged valuable items, there were intermediaries whose sole purpose was to record the authenticity of both parties and build trust between them. Currently, these intermediaries are known as banks. The use of banks and brokers continued over time, and with the advent of digital assets such as stocks, electronic money and intellectual property, the need for a more secure method emerged. This is because digital assets are usually files on the computer, which are therefore vulnerable to manipulation and theft. Thus, the use of blockchain technology allows parties to transact openly and transparently, ensuring that exchanges are secure and efficient.

The Future of Bitcoin

Blockchain has the ability to completely disrupt the financial industry in the same way social media disrupted mainstream media or the same way Netflix destroyed Blockbuster movies. Blockchain technology has the potential to be used as a platform that provides financial services to everyone in the world, this includes people in developing countries who may not have access to traditional banking services and cannot afford the fees required to make large transactions . This technology has the potential to make major breakthroughs in almost all major industries that are usually manipulated by large corporations.

The use of Blockchain technology in education

Blockchain technology in education can be used to understand students who actually need scholarships and those who can afford them. This is because several students have bypassed the system and received funding. This would actually be detrimental to needy students who end up dropping out or racking up a lot of debt, forcing them to work for almost.

Finally, a huge number of the population may be burying their heads in the sand right now as they want blockchain to go away, but this piece of technology is definitely not going anywhere. In the near future, we will all trade using blockchain as part of our daily activities, our great-grandchildren will read about money and ATMs just as we read about barter and gold. Therefore, it is imperative that we jump on the bandwagon as soon as possible and adjust before we are forced to adjust.