Day: January 4, 2019

The Big Business Revolution: Here’s Why The Future Is Blockchain

Bitcoin, that uses the Blockchain technology created a major movement in the financial world giving returns that were more than 200%. It is believed that sooner or later the currencies that use the blockchain technology like Ethereum and Bitcoin would replace the traditional staple currencies.

The Blockchain curries perform three major functions. These are:

  • To store the value
  • Measure the value
  • Act as an exchange medium

The Currencies using Blockchain are able to do all of these.

Blockchain and business

The blockchain is a method that records the data in a digital ledger. This could be contracts, agreements, or transactions. The ledger is not stored in one particular place but it is distributed across many computers across the world. Everyone in the community gets access to the ledger and it’s up to date version. This makes it highly transparent.

TheBlockchain is popular for businesses because it combines cryptography and peers to peer networks. This means that the security is maintained where the storage and transmission of data are done in a coded format and the network is shared and trusted but not under the control of any one person or organization.

The use of Blockchain in the industries will be able to create a digital economy and would be able to enhance the growth of the country and decrease poverty.

The future looks promising

Business requires administrators who manage the numbers and record them. Blockchain lets one distribute these ledgers using computer networks all around the world. The Blockchain has the potential to take over the trusted business like auditing, banking, and some government aspects as well. Many countries, in fact, have moved to the Blockchain technology. The top Australian cryptocurrency exchanges see Blockchain technology to be the future of the world.

Blockchain technology is trustworthy and this promises a change across many industries. It enhances trust in all the system where it finds use.