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Blockchain Technology provides a secure platform for the long-term growth of many business applications through its cloud-based storage system, including cryptocurrencies, as highlighted by Blockchain Community India (BCI).
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In the last two decades, we have drastically changed the way we perceived and adapted the tech.Right now, the technology innovation seems to be moving at the speed of light.
According to IBM, in the next ten years, the Internet of Things (IoT), Blockchain Technology, Virtual Reality (VR), Artificial Intelligence and Machine Learning is said to change how every sector performs an activity.
And, it is for the first time; the finance sector is said to go through a disruptive change due to blockchain technology.
Let’s see what is Blockchain Technology.BLOCKCHAIN:The chain of blocks is simply defined as a decentralized, distributed ledger that records information inside the block in an encrypted programming language.
This encrypted, stored information is unalterable and transparent through the use of cryptographic hashing.To simplify, blockchain technology is like Google Docs shared with a group of people where the members in the group will get to know about who does what in a shared document along with the time-stamp.
It makes it easy for everyone to act responsibly and keep the information transparent.