The whole point of developing cryptocurrencies has been taking control back to the people, the users. Bitcoin and indeed all cryptocurrencies have been developed to empower ordinary users with complete control and easy access to their assets, in this case, money. Thus, the central hold and control of huge financial firms on people’s money have been threatened.
In spites of all the enthusiasm and hopes brought by blockchain, it is not a magic bullet for every type of problem or challenges. Many applications continue to be developed for different sectors but not all applications will be blockchain-based. This article looks at which applications may or may not be suitable for adoption on the blockchain technology.
Disintermediation is the ability to remove intermediaries in financial transactions to save costs. Blockchain has however demonstrated that intermediaries can be done away with effectively, if not at a lesser cost than is attainable today.
Blockchain designing principles have direct implications on the way the blockchain will scale, operate and interact with users. To a larger extent, the chosen design perspective determines how many users can use the blockchain at a given time and how fast transactions can be processed.
The financial crisis of 2008 could be defined as an epoch event in the history of humankind that passed and left a trail of unknown effects, effects that would be felt decades after it is even forgotten. One though cannot mention that event without mentioning the banking sector.
One critical problem that the world faced sometime back was the use of diamonds to fund rebel groups against governments. Such diamonds were referred to as conflict diamonds, or “blood diamonds.” Africa was full of news related to this in the DRC, Central African Republic and Sierra Leon.
Blockchain deals with digital documents and any authentication to be done in the system will demand the use of digital authentication mechanisms. As such, all documentation is ‘stamped’ with digital signatures.
how “new” is the new way the Ox protocol work with regard to the exchange coins? If you know, the person you want to trade with, all you need is to send an Ox order via messenger or email. Then, all they need to do is accept the order and execute.
To offer added browser selection and security, developers designed the Brave web browser. Designed to mend the “broken web”, brave has not only proved to promote privacy and security to web surfers but it has some incentive’s feature that promotes a win-win situation to both users and publishers. But there is more to that.
In 2019, the British broadcasting corporation carried a disturbing documentary entitled “Sex for Grades: undercover inside Nigerian and Ghanaian universities – BBC Africa Eye documentary.” How blockchain can unsettle this?
