Blockchain for digital payment systems technology is breaking with these myths to provide a safe and efficient system
Its advantages have made the world start betting on its application in other practices, such as health, data protection, insurance, human resources, etc. Is this the beginning of change?
Many companies and individuals ask this question in relation to cryptocurrencies and banks. Where is your money safer? Where do you put your money? What advantages can you find on one system or another? Have you changed the opinion that you had at first after reading this post?
We would not be far from reality if we speak about cryptocurrencies as an asset with great uncertainty. However, with throughout the years, there have been introduced significant improvements that make them a safe and transparent system. For this reason, today we want to talk about its growth. Are you ready?
If we talk about cryptocurrencies as a digital media for exchange, the logical thing is to bind it to the year 2009 with the birth of Bitcoin, but if we do it as an inclusion in large organizations, perhaps, the date is more current.
Talking about advantages imply the existence of some disadvantages. Let's not kid ourselves, we know that everything that exists in the world, no matter how good it is, always finds place for some complains. Money, as we know it, too. So much so, that the cryptocurrencies are born precisely from that, to cover the disadvantages that provide traditional financial systems.
For some years, cryptocurrencies have become an effective way to ensure the security, integrity, and a balance in accounts. To achieve these values, the miners actively protect the network or lattice, because break with such security would entail a high cost. It would be necessary to achieve a computational powerthat exceeds the entire frame. Do you think this is possible?
How many times have you wish to have a safe payment system? Who has not dreamed of becoming the owner of their own money? Although many still don't believe it, people, societies and all parts of the world that carries out its operations through banks, do not have full control over their money. This is mainly due to financial institutions that act as intermediaries between two parties. Think of any economic operation you frequently do. A transfer, for example. You do it through your bank, right?
Some say that cryptocurrencies are going to end up disappearing. Others, however, agree this payment system as the money of the future. They highlight its ability to make instant payments at a low cost and place them at the center of financial opportunities. However, those who still have not taken conscience of this point, as is the case of some central banks, are reluctant to its inclusion.
Since the arrival of the Bitcoin in 2009, it seems that this question has become almost an obligation arising unconsciously along with innovations. Today, we are the ones who wonder why society, in general, should invest in cryptocurrencies. What are the benefits? What do they contribute to our society? Can they facilitate our financial and administrative activities?
There are a lot of projects of all kinds led by people who will give their skin and soul, and which, however, fail to go beyond. On the other hand, there are many other programs proposed and taken into practice and whose effort manages to make get into the society, because a lot of reasons... the advantages they bring, their needs, because of originality or even because of luck. Whatever it is, cryptocurrencies form part of the originality group.
Perhaps, you've already heard of these two concepts, but you have never dared to investigate more about them. Cryptocurrency and blockchain seem to have become two fashionable terms, although its origins go back several years ago.
About 10 years ago, someone, under the pseudonym of Satoshi Nakamoto, decided to fulfill a dream. He began to shape it through an algorithm and he communicated it through an article about a P2P system. The way to get it was using a chain of blocks or the Blockchain technology. The start of a revolution had just take shape.
If we want to direct our gaze towards the financial future, the most reasonable thing would be thinking about the cryptocurrencies: the digital exchange medium mostly known as virtual currency exchange. Central banks agree its dangers, its drawbacks, its relationship with money laundering, and the threat to the current financial system.
Among the many outstanding and common places that inhabit the edges of the world, there is one that include a population that cannot access such basic and necessary thing such as financial services.
The blockchain technology and the cryptocurrencies have come to Madrid to be presented in the first CriptoMad Congress. The event was held on June 30 in the ABC Serrano newsroom and its protagonists were several professionals in the field, through conferences, networking activities and some workshops, they all put at the disposal of visitors the cryptocurrency and the blockchain world.
To many of you, it may be still a concept almost unknown Others, however, may have already noticed some issues with virtual coins. Whatever it is, the reality that began to take shape since the Bitcoin launch in 2009 have become a revolution of the banking system. Its decentralized nature has opened a world of possibilities. Nowadays, people no longer speak about this type of cryptocurrency, but multiple cryptocurrency that have emerged since then. Litecoin, Ether and Ripple serve as good examples.
It is inevitable to establish a direct relationship between instant and digital transactions, since we can say that the latter make the first possible. It may seem surreal, but, even today, despite the digitized world in which we live, and despite the speed with which everything occurs in the network, many electronic payments take an entire day to be processed.