ElioWallSteet
Elio Aficionado
Many think of blockchain technology and crypto currency as mutually exclusive...but they’re not...
Blockchain technology is now expanding beyond it’s original crypto currency application...
Blockchain tech is actually rather easy to understand at its core. Essentially, it's a shared database populated with entries that must be confirmed and encrypted. Think of it as a kind of highly encrypted and verified shared Google document in which each entry in the sheet depends on a logical relationship to all its predecessor. Blockchain tech offers a way to securely and efficiently create a tamper-proof log of sensitive activity (anything from international money transfers to shareholder records).
Blockchain's conceptual framework and underlying code is useful for a variety of financial processes because of the potential it has to give companies a secure, digital alternative to banking processes that are typically bureaucratic, time-consuming, paper-heavy, and expensive.
Blockchain technology is now expanding beyond it’s original crypto currency application...
Blockchain tech is actually rather easy to understand at its core. Essentially, it's a shared database populated with entries that must be confirmed and encrypted. Think of it as a kind of highly encrypted and verified shared Google document in which each entry in the sheet depends on a logical relationship to all its predecessor. Blockchain tech offers a way to securely and efficiently create a tamper-proof log of sensitive activity (anything from international money transfers to shareholder records).
Blockchain's conceptual framework and underlying code is useful for a variety of financial processes because of the potential it has to give companies a secure, digital alternative to banking processes that are typically bureaucratic, time-consuming, paper-heavy, and expensive.
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