What is blockchain?
The term blockchain has been used in numerous social and corporate conversations in recent years and it seems that everyone has heard of blockchain technology, but most of the population does not really know what it means.
In order to clearly explain what blockchain technology actually means, let us give you a brief overview of how money transactions have evolved. Historically, when people exchanged valuables, there were intermediaries whose sole purpose was to mark the authenticity of both parties and establish trust between them. Nowadays, these intermediaries are known as banks. The use of banks and brokers continued over time, and with the emergence of digital assets such as stocks, electronic money, and intellectual property, a more secure method was needed. This is because digital assets are usually files inside a computer and are therefore vulnerable to manipulation and theft. Thus, the use of blockchain technology allows parties to conduct open and transparent transactions, ensuring that the exchange is safe and efficient.
The Future of Bitcoin
Blockchain has the ability to completely disrupt the financial industry in the same way social media disrupted mainstream media or Netflix destroyed Blockbuster movies. Blockchain technology has the potential to be used as a platform to provide financial services anywhere in the world, including people in developing countries who do not have access to traditional banking services and cannot afford the fees required to make large transactions. . This technology has the potential to make major breakthroughs in almost all major industries that are usually manipulated by large corporations.
Using Blockchain technology in education
In education, blockchain technology can be used to identify students who really need scholarships and those who can afford them. This is because several students bypass the system and obtain funding. This will actually be detrimental to needy students who drop out or accumulate so much debt that they barely work.
Finally, they can bury their heads in the sand because a large portion of the population wants blockchain to go away right now, but this piece of technology isn’t necessarily going anywhere. In the near future, we will all be trading using blockchain as part of our daily activities, our grandchildren will be reading about money and ATMs, just as we read about barter trading and gold. Therefore, it is important that we jump in and adapt as soon as possible before we forcefully adjust.