What do you think is the future of Blockchain technology?

Blockchain is an emerging technology, so predictions are still mixed about its potential. By 2022, at least one innovative business built on blockchain technology will be worth $10 billion. By 2026, the business value added by blockchain will grow to just over $360 billion, then by 2030 grow to more than $3.1 trillion.

Why do you think the Blockchain technology is the right technology to use?

Blockchain is a better, safer way to record activity and keep data fresh, while maintaining a record of its history. The data can’t be corrupted by anyone or accidentally deleted, and you benefit from both a historical trail of data, plus an instantly up-to-date record.

What do you think is the future of blockchain technologies in financial markets *?

Regarding a recent PWC report, 77 percent of financial institutions are expected to adopt blockchain technology as part of an in-production system or process by 2020. Blockchain technology will allow banks to reduce excessive bureaucracy, conduct faster transactions at lower costs, and improve its secrecy.

What is an advantage of using Blockchain technology all transactions are approved by a single and impartial third party or authority?

None of the participants are notified when changes are made to data stored in previous blocks. All transactions are approved by a single and impartial third party or authority. The system creates a hash or digital fingerprint for each participant in the blockchain.

What companies are using blockchain technology?

Blockchain, a secure new technology, entices world-leading companies and governments Blockchain is a record of transactions that allows users to share information quickly, freely and under the radar. Blockchain is being used by leading companies, such as Wal-Mart and IBM.

What you should know about blockchain technology?

What You Should Know About Blockchain Technology. Blockchain is a revolutionary technology, but the concept is surprisingly simple. Blockchain is simply a very sophisticated, online ledger system. A super-cool spreadsheet that keeps data secure, accessible, and accurate.

What are the benefits of blockchain technology?

Benefits of BlockChain Technology. For example, the transparent nature of the blockchain is beneficial in the supply chain and quality control as it helps to root down to the place where the errors occur, thus, increasing the quality and productivity which as a domino effect helps to decrease the costs.

Is blockchain the future of cybersecurity?

For apparent reasons, Blockchain tech’s future range majorly lies within the specialty of Cybersecurity . Even though the Blockchain ledger is distributed and open, the information is protected and verified. The encryption is performed through cryptography to get rid of vulnerabilities like unauthorized information tampering.