The hype is here, the tone is set and the technology is just passing through its infancy into its young adulthood and eventual maturity. At that time we envision blockchain becoming as popular and well understood as the internet is today. Like the internet though, many people were outright skeptical, others optimistic and another group who totally avoided it due to lack of accurate knowledge or merely cultural barriers.
In parts one and two of “blockchain – what it is”, we discussed why the tech design of blockchain has enabled it to be adaptable for worldwide use and adoption. Unlike the internet, blockchain is all about resource and asset management as opposed to information sharing and determination. But is blockchain infallible? What is it not?
The blockchain technology has introduced many terminologies. Common terminologies associated with this include blockchain itself, micropayments, digital currency, and cryptocurrency, halving bitcoins, trust protocols and smart contracts. If you are new to blockchain technology, surely you have a lot to learn. This article will look at smart contracts in simple terms.
Every game-changer has benefits. Many of us will relate how the internet has revolutionized everything around us. Communication, relationships, finances and a lot more have changed for the better. The same applies to the blockchain. Before we discuss some perceived disadvantages, this article will briefly look at some advantages and benefits of blockchain technology.
In this article, we continue to look at that comparison by considering other features that make it unique and adaptable for worldwide use such as distributed, a chain of blocks and process integrity.
Blockchain has proven that international aid can increase efficiency and transparency. The biggest difficulty in providing support is the large number of arbitrators in the value chain. Most poor people are not transparent and often misuse their money. This is worse than ever because many areas (buyers) do not have a support infrastructure.
This article will explore the early attempts made in search of transaction anonymity, what protocols supported that designs as well as how Monero forked to be what it is today.
Many banks often function in a typical manner of retailing payments as a part of their role in maintaining the stability and effectiveness of financial systems and keeping the confidence in the used currencies. With the emergence of the new form of currencies, commonly known as digital currencies, it is being examined by different committees and organizations and as such, it has had an immediate and direct impact on payments and market infrastructures.
Like many other domains and aspects, the supply chain management has been heavily hit as it is in search of solutions in order to remedy what is for the moment difficult to remedy. The covid-19 pandemic has caused major disruptions in the world in terms of global supply chain.
The BCB known as Brazilian Central Bank under the named PIX hopes and desires that the Brazilian project consisting of creating a new payment service is going to facilitate and make payments easy.
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