Beyond Bitcoin: Unexpected Blockchain Uses

prankstr25 (27)in #crypto • 6 years ago

Disclaimer: Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This article is for informational purposes only, and is not financial advice. The information does not constitute investment advice or an offer to invest.

Blockchain 101

Blockchain has traditionally been overwhelmingly linked to Bitcoin, but beyond the crypto giant there are many established and innovative uses of blockchain in the world today. Blockchain, in simple terms, consists of a record of a new transactions referred to as a block. These blocks of transactions are added to the chain once completed.

Blockchain has become a big draw to businesses and entrepreneurs lured by recent blockchain-market trends promising lower fees, faster transaction times and much more. In banking alone, blockchain technology is estimated to have the potential to reduce infrastructure costs by 30% or more. While it may seem obvious for banking, since its very industry is impacted by any sort of fintech innovation, there are surprisingly many other areas of business that will be impacted by blockchain technology in the near future.

#blockchain #ethereum #bitcoin #ico

6 years ago in #crypto by prankstr25 (27)

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