Blockchain technology today, is attempting to do to the finance industry what internet did to the media and entertainment industry. The technology which provided an avenue for cryptocurrencies, was recently tagged as the future of online payment in the recent Global Ecommerce Summit.
Today, nearly everyone has heard one or two things about bitcoin since the invention of the blockchain technology. Cryptocurrency carries out trade in millions of US dollars, in various cryptocurrency exchanges which facilitates trades. Major companies around the world have also begun to accept cryptocurrencies as a form of payment.
This shift towards the blockchain backed currencies is largely due to a peer-to-peer exchange kind of transaction which has provided an avenue for transparency and security.
In an era where demand for transparency and security in online transaction is high, the massive acceptance of blockchain technology, especially in the finance sector is no surprise.
These digital currencies have paved the way for seamless transfer of funds across borders, catering to the unbanked population in a secure and transparent manner
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