Blockchain technology isn’t merely the public ledger that keeps track of your Bitcoin balance. It’s a versatile framework for handling data, encryption, and security that can be applied to many different industries. Organizations around the world are starting to see this and have their top people working on new applications every day.
Banking
The banking industry is one that is being thoroughly revolutionized by the advent of blockchain technology. As cryptocurrencies are beginning to become evermore legitimate competition for fiat currencies, the industry is starting to adapt to rather than resist this new way of handling finances.
Bitcoin and other cryptocurrencies already provide attractive options for transferring money, with lower costs per transaction in many cases. The other key advantage is that there’s no risk of failed payments, like in the case of bounced checks or insufficient funds returns. There’s still room for improvement here, though, with transaction speeds being the main concern.
Continue reading: https://dodofinance.com/which-industries-is-the-blockchain-revolutionizing-today/
Banking
The banking industry is one that is being thoroughly revolutionized by the advent of blockchain technology. As cryptocurrencies are beginning to become evermore legitimate competition for fiat currencies, the industry is starting to adapt to rather than resist this new way of handling finances.
Bitcoin and other cryptocurrencies already provide attractive options for transferring money, with lower costs per transaction in many cases. The other key advantage is that there’s no risk of failed payments, like in the case of bounced checks or insufficient funds returns. There’s still room for improvement here, though, with transaction speeds being the main concern.
Continue reading: https://dodofinance.com/which-industries-is-the-blockchain-revolutionizing-today/
