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Crypto & Digital Investments 📊 Web3 • Market analysis 🌐
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💛 Binancians…
Could Blockchain replace banks?
👇🏼👇🏼👇🏼👇🏼👇🏼
So far we have managed our values through large intermediaries: banks, credit card companies, governments, social media companies, etc. And they are able to trust each other.
The blockchain represents a new platform where we can trust each other when it comes to exchanging data without the need for these intermediary institutions.
Blockchain is the technology on which cryptocurrencies operate, virtual currencies that are changing commerce by eliminating the presence of a third party to endorse a monetary transaction, as everything is recorded in this open and accessible blockchain of information for everyone.
In finance, the absence of a third party would help reduce transaction costs, as well as increase the speed of them. But at the same time, it implies the loss of prominence of the intermediaries that used to validate the validity of financial operations, such as banking and government.
The financial sector has been one of the first to be affected and large banks are already analyzing how to adapt to this technology and how to use it.
#blockchain #bitcoin #WORD #fyp
Could Blockchain replace banks?
👇🏼👇🏼👇🏼👇🏼👇🏼
So far we have managed our values through large intermediaries: banks, credit card companies, governments, social media companies, etc. And they are able to trust each other.
The blockchain represents a new platform where we can trust each other when it comes to exchanging data without the need for these intermediary institutions.
Blockchain is the technology on which cryptocurrencies operate, virtual currencies that are changing commerce by eliminating the presence of a third party to endorse a monetary transaction, as everything is recorded in this open and accessible blockchain of information for everyone.
In finance, the absence of a third party would help reduce transaction costs, as well as increase the speed of them. But at the same time, it implies the loss of prominence of the intermediaries that used to validate the validity of financial operations, such as banking and government.
The financial sector has been one of the first to be affected and large banks are already analyzing how to adapt to this technology and how to use it.
#blockchain #bitcoin #WORD #fyp
💛 Binancians, did you know that…
The Blockchain is literally a chain of blocks that contains information, each block in the chain contains 3 elements, the first are the DATA that is stored in that block, the second element is the famous "Hash", a string of numbers and letters that identifies that block, its content and that is always unique like a kind of fingerprint, every time a new block is created a new unique and specific Hash is calculated for that block, if a piece of data within the block changes, the hash will also change, the third element is the Hash of the previous block and it is precisely the presence of that Hash within each block that gives rise to the chain and that is what makes it so secure.
#blockchain #historia
The Blockchain is literally a chain of blocks that contains information, each block in the chain contains 3 elements, the first are the DATA that is stored in that block, the second element is the famous "Hash", a string of numbers and letters that identifies that block, its content and that is always unique like a kind of fingerprint, every time a new block is created a new unique and specific Hash is calculated for that block, if a piece of data within the block changes, the hash will also change, the third element is the Hash of the previous block and it is precisely the presence of that Hash within each block that gives rise to the chain and that is what makes it so secure.
#blockchain #historia
💛 Binancians Did you know that…
Blockchain technology was conceived in 1991 by a duo of American researchers and was initially designed to authenticate digital documents so that the date could not be changed or altered, in other words, to serve as a kind of digital notary.
#blockchain #HISTORIA
Blockchain technology was conceived in 1991 by a duo of American researchers and was initially designed to authenticate digital documents so that the date could not be changed or altered, in other words, to serve as a kind of digital notary.
#blockchain #HISTORIA
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