Without a doubt, the business world might never be the same again if Blockchain Technology would catch fire and become the world’s standard for doing business. In doing so, a lot of financial institutions may be shaken, or would have to adjust considerably to the said movement. If you are looking for a blockchain and/or cryptocurrency solution, then one of the best companies to consult would have to be ClearCoin. Even if it has just started recently, it has managed to set itself as a place for you to entrust Cryptocurrency and Blockchain matters. If you want to know more about some things on Blockchain Technology, here are some things you ought to know.
What makes it stand out?
The reason why it’s touted to revolutionalize the way we do business is simply because it can be used in a lot of transactions. Whether it be property, money, or goods, these have a place in Blockchain technology, making transactions much more seamless, and its potentials to excel being limitless. It’s new in a sense that all transactions are known by the ones in your network, which helps to control the incidences of fraud, as the public ledger, which is the key feature of Blockchain technology, shows all these transactions as they happen.
Who Uses it?
Given that transactions can be done on the internet, then everyone can. At present, however, it is estimated that $20 billion in dollars of GDP is within the block chain. There are, however, a lot of companies that are already making the move to shift to Blockchain, and these companies include Microsoft, IBM, UBS, and the PwC. Others companies or institutions in their testing phase is the Bank of Canada as well. In the next year, it is projected that the bank spending would increase to $400 million.