Blockchain's Impact on Finance
Written by Okwu Mabel Blockchain technology was initially created to support cryptocurrencies, but its potential has extended way beyond that. With the decentralized characteristics and features it provides, Blockchain technology has begun to transform several sectors, including payments, supply chain management, and contracts. The financial sector is one of the critical areas that is benefiting from Blockchain technology's integration. In this blog post, we discuss how Blockchain technology has impacted finance. What is Blockchain Technology? Blockchain technology is a distributed, decentralized, and immutable ledger that enables secure, transparent, and tamper-resistant transactions. It operates through a network of nodes that validate and verify each transaction made on the network, which creates a publicly accessible and chronological chain of transactions . Blockchain technology orchestrates transactions through cryptography - the secure method for exchanging digital a...
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