Blockchain is the peer-to-peer technology behind Bitcoin. It is a block network that stores encrypted transaction data in a distributed network. This technology allows users to store digital data safely and authentically without being changed by others. In simple terms, blockchain can be said as a network, a network between blocks.
Blockchain offers high-level solutions that have the potential to revolutionize the way the internet, banking and applications work to become serverless. Its technology is often referred as a revolutionary technology.
Due to the sophistication of blockchain technology that has high security, this technology is often applied to digital currencies, smart contracts and supply chain management. The data on the blockchain is difficult to manipulate, transparent, so that users can easily check the validity of the data.
Data transmission using Blockhain technology happens instantly and efficiently. All transactions and data storage are guaranteed security because they are replicated throughout the blockchain network so that to change one data, the hacker must also change the same data on all other user’s computers at the same time.
Benefits of Blockchain in Various Industries
During this pandemic, investment in crypto assets is increasingly in demand. As a reminder, Crypto assets are intangible commodities in the form of digital assets, using cryptography, with peer-to-peer networks, and distributed ledgers, to manage the creation of new units, verify transactions, and secure transactions without third party interference.
Crypto assets are widely chosen during this pandemic. Higher prices, easy and practical is the reason, also because of their level of security. This long-term investment provides a sense of extremely secure because it uses blockchain technology. The blockchain secures all transactions that are verified by every device on this network.
Blockchain has many benefits in various industries. Blockchain began to be used by world-class companies such as Citibank, Visa to Microsoft.
Sony, a Japanese technology company, recently announced the launch of a blockchain system for public vehicles. The system provides integrated data and provides services for all categories, from taxis, trains, buses to rental bicycles.
The Russian government rail transport advisor who is also the operator of the national railroad also applies this technology to the transportation industry. This decentralized technology smart contract feature is even predicted to be able to manage and target the maintenance period of a train carriage.
The solutions that blockchain technology provides to the logistics industry can even cut costs twice as much. Because this technology doesn’t use the third party, it has the potential to reduce transaction costs and thus become cheaper.
This technology also offers speed with transaction times in minutes and a 24 hour process for 7 days. It’s different from the process at a bank which often takes days, and there is also a count of working hours.
Women and the Blockchain Industry
A long time ago, the blockchain and cryptocurrency industries were dominated by men. However, because the world of crypto assets is expanding and it has become a popular investment, women are finally getting into this field. As released by Coinmarketcap in April 2020, the number of women in this industry increased by 43.24 percent.
Apart from the increasing attractiveness of investing in crypto assets, several other reasons why women are looking at this industry is because women currently use less crypto assets to protect their funds. They have tried many of these investments to protect their portfolios by losing confidence in other securities.
So, are you increasingly convinced that investing in assets with blockchain technology is the right choice? If you are already interested in investing in this crypto asset, you can find information about the classification of crypto assets by blockchain type on this link. You can find information on crypto prices on this link. Happy investing!