What can blockchain subvert (what can blockchain do)

What Can Blockchain Disrupt? Blockchain is a disruptive technology that can solve some of the most significant problems currently encountered in the financial industry. But in today’s era, we have seen some new questions: for example, what is blockchain? Why is such a technology needed or how it will have an impact on the business of the financial industry, and how it can be used as a daily payment method. And the answers to these questions are very simple and interesting

Nowadays, many people are talking about whether Cryptocurrency such as Bitcoin is a good inflation solution. So is it possible for blockchain to replace traditional banking systems? If there weren’t a brand new internet platform to change this situation? What can blockchain do? What are its main functions? What changes will happen to them? Let’s take a look together! Blockchain can be said to be one of the most thorough decentralized database technologies. It ensures the openness and transparency of the trading process through a peer-to-peer approach, and records data that will not be lost due to anyone’s intervention. Although the current network is very developed and not mature enough, people can still access various things on the blockchain by using computer programs and apply them to all aspects – including Identity management (KYC) and anti money laundering (AML) Essentially, blockchain can be processed and stored as a distributed ledger, rather than relying on trust mechanisms established by other methods or institutions as in the past. This technology has many advantages, such as reducing intermediary costs, improving efficiency, improving security, making it easier to track asset flows to the market, and so on. Blockchain can also be used to protect personal information and property from infringement, while also enabling secure sharing of privacy

What can blockchain do

According to IMEOS, recent reports have shown that blockchain can do Blockchain technology can help many traditional fields solve information asymmetry problems. For example, electronic invoices are currently one of the most complex paper businesses in the world; The Internet provides users with convenient and fast services, data and content circulation services, and so on. But these cannot be separated from the role of some centralized institutions: for example, when you buy goods online, you will receive a receipt or notify who you need to pay to; If you put a shipment in the bank and it is rejected, there is no way to recover the payment at this time. So we believe that blockchain is a great tool for value exchange.