Blockchain technology—which was first introduced in 2008 in the context of the digital currency Bitcoin—is often seen as a trust producing technology that might make trustworthy intermediaries such as banks obsolete .
Read moreWhy you should not use blockchain?
Regulation- blockchains exist orthogonally to the law and can’t be easily overturned . In heavily regulated industries that require interpretation, blockchain could be difficult to effectively apply. It’s difficult to comply with all rules and often can’t be easily tailored to existing regulatory infrastructure.
Read moreIs blockchain really the future?
Blockchain technology will fundamentally change how we live and work in the future . The Global Blockchain Market is expected to reach USD 34 billion by 2026, with a growth rate of 45%.
Read moreWhy is blockchain trustworthy?
The chaining of the blocks ensures that the content of the block remains trustworthy at all times . For example, if a change is entered in a block, such as a payment statement, then all the computers in the entire network check the blockchain to see if the transaction was valid.
Read moreWho actually uses blockchain?
Microsoft, Amazon, Tencent, Nvidia, J.P. Morgan, Walmart, Alibaba, PayPal, Samsung and the Bank of China are among the 27 companies with live blockchain operations.
Read moreIs blockchain the future of finance?
You would have a transparent, chronological history of events for a single source of truth. This world is coming, and its name is blockchain. As a revolutionary technology for recordkeeping, it is poised to change the future of finance —in accounting, asset registers, payments, trading, collateral management, and more.
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