Image source: Shelly Palmer
There is a distributed digital public ledger which is called Blockchain. It is with impending to dramatically impact all industries that expect on trust or record-keeping and authentication. There is very transparent peer to peer transactions which are digital and public viewable.
Image source: Ethfinex
Decentralization
There is new digital information that gives us a new block. It gets attached to the old block. The blockchain is a very secure system and it is hard to break it. It means that Bitcoin is not a wood tree and cryptocurrency is not a bubble for the time being. There are many people who do not know about the blockchain. But actually, it is a science fiction technology which can change our lives. It is the biggest revolution in the digital finance world. The experts say that the cryptocurrency is just like a bubble which is starling revolution. Moreover, there is a Blockchain ecosystem which is more than important revolution.
Image source: International Finance Magazine
Disruption In Industry By The Blockchain
There are several advantages of the blockchain such as;
- There is decentralization in the blockchain system and it is at saver side from the hackers
- Everyone can view he transact record at any time from any place
- It is a very quick and transparent system which is called public ledger
- Whole personal information is saved because of decentralization
- Information cannot be altered and controlled by an irrelevant person
- When there are two parties of person then both can view their record.
- No chances of hacking
Ensuring Of Transparency
When the experts were launching the blockchain for the globalization of the financial matter then they have to face to the challenge to protect the blockchain. They did not want to lose the trust of the people at the start. Moreover, when anyone put his investment for taking profit then he does not want to bear the loss. No one wants to imagine that his assets are stolen.