What is Blockchain?
The term blockchain has been used in many social conversations and companies in recent years and everyone seems to have heard about blockchain technology, but the majority of the population actually doesn’t know what it means really.
In order for us to clearly explain what actually means blockchain technology allows us to give you short details about the history of how money transactions have evolved. Historically every time someone is used to exchange valuables there is a middle man who is the only goal is to record the authenticity of both parties and build trust between them. At present this middle man is known as a bank. The use of banks and brokers continues from time to time and with the advent of digital assets such as stock, electronic money, and intellectual property needed for safer methods has emerged. This is because digital assets are usually files in computers which are hence vulnerable to manipulation and theft. Thus the use of Blockchain technology allows parties to transact openly and transparently ensure that exchanges are safe and efficient.
Blockchain has the ability to fully disrupt the financial industry in the same way as social media interferes with the mainstream media or the same way as Netflix destroys blockbuster films. Blockchain technology has the potential to be used as a platform that provides financial services to all people on the world, including people in developing countries that may not have access to traditional banking services and cannot pay the rates needed to make large transactions. . This technology has the potential to make a major breakthrough in almost all major industries that are usually manipulated by large companies.
Use of Blockchain Technology in Education
Blockchain technology in education can be used to find out students who really need scholarships and those who can afford it. This is because some students have passed the system and get financing. This will actually be detrimental to students who need that eventually drop or add a lot of debt that causes them to work for almost.