In the short run, the sphere of finance could be governed by blockchain technologies. A crypto currency backed up with efficient infrastructure may increase global cost reduction for all market participants and change the entire banking system.
Bitcoin and Blockchain will do for payments what internet did for communication.
B&B cannot be ignored any more.
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What are the most interesting uses of blockchains other than cryptocurrencies?
– Identity authentication through a visible ledger offered by blockchain technologies could help reduce cyber risks. – An increasing number of organizations and political parties have proposed the creation of a blockchain-based system to build a fairer and more transparent voting environment. – Small companies could benefit from using blockchain by creating trusted trading platforms among themselves. – Blockchain could promote robustness and transparency in the post-trade environment. – Blockchain tech will change timing on risk.
– Santander SAN, UniCredit UNCFF, UBS UBS, Reisebank, CIBC, ATB Financial and the National Bank of Abu Dhabi working with Ripple’s technology, which uses a distributed ledger of the sort that also underpins bitcoin. – Central banks could be substituted by the blockchain. – Central banks will adopt blockchain and cryptographically secured currencies will become widely spread. – As the blockchain transaction contains all necessary information to transfer assets and/or related contracts successfully, the number of applications within and outside the banks could be reduced.
– One of the key innovations of the blockchain is its capability to downsize or eliminate trusted counterparties in the transaction process. However, not all industries have understood this yet. To do this, they need some time and more information. – One of Nasdaq’s latest initiatives aims to migrate proxy voting, used by shareholders, onto a blockchain solution. – Blockchain has sufficient level of capacity to create new opportunities for industries and destroy current technologies and processes. – Increased speed and performance of transactional activity through the blockchain technology will make the world event smaller.
– Japan, U.K., Canadian government representatives called for implementing Blockchain technology into state systems. – Dutch Government Invests in a Blockchain Development Campus. – Bitcoin and cryptocurrencies could shape the future of the finance sphere in many countries. – Social welfare in developing countries could be divided through blockchain tech. – Blockchain technology could make elections instantaneous and not so expensive and arduous as they are today.