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Chapter 2 - 4 Big Advantages Of Blockchain Technology (Full Course 1)



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Chapter 2 - 4 Big Advantages of Blockchain Technology (Full Course 1)

At the heart of the excitement surrounding cryptocurrency is blockchain technology. Blockchain technology is the foundation that all virtual currencies are built upon. It is the decentralized and digital ledger technology that records all of the transactions without needed a financial intermediary, like a bank.

Blockchain technology appears to offer four distinct advantages over existing payment facilitation networks.

1. Transparency.
2. Reduced Transaction Costs.
3. Faster Transaction Settlements.
4. Decentralization.

In conclusion, even with these advantages, there is still a significant worry that can't be overlooked. Throughout history, investors have continued to overestimate how quickly a new technology will be adopted. Like most new technologies it will take time to lay the groundwork for blockchain, and it could still be some years before businesses fully embrace this technology as a significant component of their payment systems.

In the next chapter we will discuss “Surprising Uses of Blockchain That Don’t Involve Cryptocurrency”.
Category
Cryptocurrencies
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