Blockchain is hastily changing some issues related to the Internet and finance. However, could there be more changes to come?
The Blockchain and the digital revolution
We are sure that many services on the Internet that target end users like accounting or services like https://essayswriter.org/ will use blockchain in their payment systems. However, during the last few years, the issue related to cryptocurrency investments has also become popular, as is the case with Bitcoin.
The possibility of buying digital assets for a low value, then selling them at a much higher price is what excites hundreds of investors across the planet. However, did you know that this is not only the only thing that all Blockchain technology can do?
Currently, we may be living in a third technological democratization, which is what this system enables that implies a change with respect to finance. Basically, this storage data technology changes how users and their corresponding revenues are viewed.
For example, for years, the only possibility to collect anything through digital channels was through a centralized system. This means that an institution oversees every transaction to ensure that various security rules and standards are being met.
However, with Blockchain, more power is given to users so that they can trade freely without the need for an intervener. Due to the very nature of the network, it is practically impossible to violate users’ privacy. For this reason, all transactions are secure and between the users themselves, without third parties.
The way ahead for the future of the Blockchain
According to the World Bank, implementing Blockchain in the corporate world can generate a path of inclusion and innovation. The problem seems to be in the adoption that states may have with these practices since everything escapes the control they may have.
In this sense, the idea is to be able to generate a field of security standardization for all operations. It is not about being able to implement measures to learn more about users’ transactions but about the fact of redesigning an entire system that had been designed for control.
The paradigm shift of the Blockchain is evident. If each user has his own encrypted wallet, this situation is similar to saving money in banknotes. That is to say, and there is no way for the State to know what real wealth a person has.
All this derives in that the Blockchain is changing the way in which people interact with their own money and even with investments. That is, it is now very common for thousands of people to invest and have basic financial knowledge when years ago, it was something of a very small segment.
In short, great changes are being appreciated with respect to the Blockchain.