Why Blockchain Is The Future

Blockchain technology allows small corporations and individuals to make more secure, reliable transactions. Blockchain technology is a true revolution in our society.

Blockchain technology is perceived as innovative due to the clear transparency it provides to the record keeping. Also, because these records cannot be changed/modified it’s almost impossible for a hacker to falsify or modify transactions.

Open Source Technology

When most people think of blockchain, they probably think of cryptocurrecies like Bitcoin or Etherum, but cryptocurrecies are just one small part of blockchian technology.

Blockchain is open-source technology, which means that it’s available for everyone to use and modify. Blockchain can allow goverments and businesses to avoid the complicated global financial system.

Public establishments such as stock market or banks can see the enourmous potential of blockchain technology, which means that they will either have to adapt or face the competiton from evolving financial tehnologies.

Decentralized Network

But the biggest reason why blockchain technology is percieved as innovative is due to it’s decentralized nature. Blockchain has a large number of nodes that maintain the entire system and verify each transaction before adding it to the blockchain.

The reason why a decentralized network like blockchain is so important and valuable is because it’s individual users are not dependant / reliant on a single central server. This increases individual privacy, system reliablity and scalability.

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