https://i.redd.it/e6a26mmv8ye31.png
Blockchain is most useful when it comes to a highly reliable storage system
Blockchain technology maximizes the effect in two cases: storing event information and ensuring that this information is never deleted.
This feature makes blockchain very useful in situations where both parties want to make an agreement but do not trust each other.
Blockchain can replace financial institutions, banks or law firms.
Banks and law offices are developed to handle transactions related to money and assets. However, many of these transactions can be done through blockchain applications such as smart contracts.
A smart contract using simple understandings is a thing that can only happen when another thing is done.
For example, Party A lease an apartment, the smart contract requires Party B to transfer USD 1,000 to Party A in exchange for the opening code. Blockchain eliminates the risk of having a fraudulent intermediary unit.
Bitcoin, the first blockchain structure, was created in 2009.
#blockchain #trustinvestment
No comments:
Post a Comment