Blockchain is a revolutionary innovation just like the internet. It is the backbone of digital/cryptocurrencies such as Bitcoin.
It is extremely secure, robust against fraud and cheap to run.
Blockchain technology could be applied to improve various other types of processes besides finance.
It is super-efficient, low cost and will wipe out expensive bureaucratic barriers from our lives.
Many experts believe Blockchain will have a more radical impact on our lives than the internet did.
I am going to concentrate on its transformative and disruptive impact on the financial sector in this article.
Blockchain technology was developed just after the dramatic failure and collapse of the banking sector in 2008. It is now creating a cashless decentralised financial sector.
When we send money from one account to another or change currencies to purchase goods, there is always a middleman we have to go through.
Middlemen, such as banks, delay the processes, create costs and are open to corruption. Blockchain-based digital currencies have no middlemen and…
