Understanding the Blockchain: A beginner’s perspective

What is the blockchain?

Centralized vs Decentralized

Mining

Hash(tag)

Block + Chain

What are the advantages of Blockchain Technology?

What are the disadvantages of Blockchain technology?

What is the future of Blockchain technology?

  1. Cyber-security: The cyber-security industry is set to be impacted by the deployment of the security and immutability features of blockchain technology.
  2. Real assets tokenization: The finance industry will be disrupted by the blockchain’s fractionalization of asset values and reduction of minimum investments.
  3. Smart contracts: This will eliminate third parties, reduce costs, and change business methods.
  4. Identity management: Blockchain technology offers an impressive approach to the identity management of populations.
  5. Supply chain management: It could become easier to track the source, processing, and external inputs of commercial products like food.
  6. Trade and finance management: Commercial activities like international trade will be disrupted as many middlemen will be eliminated by this technology.

Conclusion

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Adetunji Matthew

Adetunji Matthew

I’m Adetunji Matthew, an Economist, Social Media Manager, software Developer/Marketer Sales Consultant, and Ecompreneur. Join Us at: AidTheStudent.com