Revolutionise. Integrate. Enhance – Blockchain
We live in the era of smart phones, smart companies, smart factories, and smart cities. It is only natural to have Cryptocurrencies are a component of the new wave that has taken over the technological advancements around the globe. Blockchain has impacted individuals and businesses in various ways.
Firstly, it is important to understand the difference between blockchain and bitcoin. Many people generalize the concept of blockchain with bitcoin or with other cryptocurrencies. Fintech labs have clear signs that state,
According to Forbes
- Businesses can primarily set agendas and conditions on blockchain. This way automatic transactions can be generated when those agendas or conditions are met.
- As the transactions are logged in sequential order, the blocks in the blockchain are time stamped.
- Blockchain increases privacy and security by enhancing transparency in organizations. There are public and private keys that are safeguarded by cryptography. This ensures that no personal or sensitive information is leaked.
- This particularly affects SME’s as blockchain creates platform to enhance funding opportunities. This is possible by venture capital, liquid cryptocurrencies and more.
- No dependency on third parties is required with blockchain technology.
- The data stored in blockchain is . Hence, data cannot be tampered with.
- Blockchain practices safe and secure cryptography for data ledgers.