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Revolutionizing with the Block Chain technology

Posted On: Feb 02, 2018

After, all, big discussions, debates and conferences, Blockchain made its way into market about nine years ago. 
 
The technology then was synonymous to the Bitcoin, Right? As the time goes by, this
 
 significant concept has now propagated into all major industries. 
 
What started as the medium for facilitating bitcoin transactions is now highly regarded as a
 
dependable and authentic procedure for transactions that are important. 
 
 
The credibility of the technology has increased many times. The use of blockchain technology enables
 
not only seamless bitcoin transactions, but also demonstrated proven use in wide use to 
 
its commendable value. 
 
Let us briefly review, how two major industries – banking and the stock markets, which are on the path of 
 
getting revolutionized due to the sheer influence of Blockchain technology? 



Banking - Blockchain offers a much faster transaction when compared to the traditional mode of transaction
 
which routes through a third party like payment gateways etc. Blockchain technology breaks down the process
 
and works towards simplifying the elaborate procedure, thereby making transactions fast. 
 
The process guarantees a lot of transparency as mobile encryptions render accessibility
 
 to users to check their transaction details, through the block chain’s shared ledger.  

The ledger provider’s network, make transactions beyond the borders simple, cost-
 



Source - https://www.pinterest.com/pin/545780048573878912/



effective and without having to worry about the mammoth time that used to be a major hindrance in the path.



Stock Markets - Blockchain has the ability to weed out the unethical practices concerning the stock trading and
 
bringing in transparency.  It can also lower the time and the cost that is involved in the actual transaction
 
of buying or selling the stock/securities. It can eliminate the mediators that exist in the current system, thereby
 
 streamlining the process and doing away with the redundancy. 


The bottom-line here is that all industries which heavily rely on the data that is available online for 
 
its operations can reap the benefits from this technology.