What is Blockchain?
The word blockchain has been used in numerous social and corporate conversations in recent years and everyone seemingly have learned about blockchain technology, but a majority of the people actually does not have any idea what it really means.
For us to clearly explain what blockchain technology actually means allow us to give you a brief breakdown about the real history of the way the blockchain transaction of money has evolved. Historically whenever people used to change valuable items there have been middle men whose sole purpose was to record the authenticity of both parties and build trust between them. Currently these middle men are called banks. The usage of banks and brokers has continued with time and with the emergence of digital assets like stock, electronic money, and intellectual property the requirement for a better method has emerged. The reason being digital assets are usually files inside a computer which are therefore vulnerable to manipulation and theft. Thus the utilization of the blockchain technology enables parties to transact openly and transparently ensuring that the exchange is secure and efficient.
The Future of Bitcoin
Blockchain has the power of completely disrupting the financial industry exactly the same way social media marketing disrupted mainstream media or exactly the same way Netflix destroyed Blockbuster films. Blockchain technology gets the potential of being used as a platform that provides financial services to everyone on the the main world, including people in developing countries who may not need the access to traditional banking services and cannot spend the money for rates required to produce large transactions. This technology gets the potential of earning major breakthroughs in the majority of major industries which are usually manipulated by big corporations.
The usage of Blockchain technology in Education
Blockchain technology in education may be used to determine the students that truly need the scholarships and those who can afford it. The reason being a few students have already been bypassing the system and getting financing. This may actually end up being detrimental to the needy students who wind up dropping out or accruing lots of debt that creates them to benefit nearly.