Is Investing In the Era of Blockchain Technology The way of the Future World?
Technology is one thing that will continue to change as we advance into the future. There is always a tech trend to join in on. When we got tired of land line we invented mobile phones, when physical currencies began to dwindle in value and flexibility we invented cryptocurrencies. Financial institutions and the stock market are abuzz with the progress of cryptocurrencies so far. Individuals and organizations are throwing in investments on various cryptocurrencies as digital assets. We are able to witness the progress of cryptocurrency due to the power of blockchain technology. So what is block chain technology anyway? Some can picture blockchain as a larger open, encrypted, decentralized, electronic ledger. The word decentralized simply means that there is no sole owner or exclusive authority over this ledger. And the beauty of this ledger is that, it can accept financial transactions from multiple sources.
This is close to the banking system. It is highly secure and once a transaction is made, it cannot be changed. The blockchain technology gives cryptocurrencies an impenetrable security against any form of hacking.
Hacking is a major concern especially in the United States and there have been speculations of adopting the Blockchain technology for other forms of businesses. This security has allowed cryptocurrency to flourish as many companies are even paying staffs in cryptocurrencies. Big corporations like IBM and MasterCard are currently utilizing blockchain and payment system.
What are the Benefits of Blockchain Tech?
It offers security support for cryptocurrencies and asides that, it is applicable to all forms of data. Data is the one thing that is most valuable to numerous corporate organizations and businesses and with increasing risk in securing data, there is a search for new sources of cyber security.
This is where Blockchain technology becomes advantageous. Transactions made by users can not be changed by an external source. This greatly reduces the risk of breaches in form of malwares. This technology is not just built for the financial sector alone. It can be leveraged for governmental purposes, healthcare, and other big corporation with big data.
Check out this medium article that highlights some projects similar to POA network that are changing the blockchain game. We believe these are the high level companies that are really changing the cryptocurrency game in 2018-2019.
Blockchain technology is at its emerging stages and still has a bit of tweaking to undergo before it becomes a sure deal, however it stands out as a most promising source of data security.