what is blockchain technology (1)

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What is Blockchain?
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• Blockchain is a distributed ledger technology
  that offers a transparent and secured way to
  conduct the business with information stored on
  shared and reconciled database. As per the
  survey, more than 62 of the executives believe
  that blockchain is a disruptive technology and
  has the power to make a great impact. More than
  54 of the executives believe that new business
  models will influence block chain technology and
  in many sectors are ready to adopt commercial
  blockchain within the next three years.

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Never Underestimate The Influence Of Blockchain
Technology

• With the growth of the World Wide Web, Blockchain
  certification offers immense potential. This
  technological evolution is not limited to the
  financial world or banking landscape, its
  footprints are expanding. This blog will provide
  you with five reasons why this technology has
  become powerful or why today the people prefer to
  comply with Blockchain training in Mumbai.

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Decentralized System

• The main reason why scams happen in the financial
  world is no one is ready to take the
  responsibility. The banks owe RBI responsible for
  the policies and RBI or central authorities hold
  the bank responsible for not being vigilant
  enough. But with the help of this technology,
  everyone in the eco-system becomes equally
  responsible for the growth or downfall of the
  system.

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Secured access

• Another reason why this technology holds an
  immense potential is because the technology works
  on the concept of the open ledger which is easily
  accessible to everyone associated in the system.
  Once you join the network, you can have an access
  to an entire list of a transaction. Nonetheless,
  this can be one more reason why Block Chain
  certification in Mumbai is in demand.

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Every transaction is verified

• Every transaction is cross-verified using a
  ledger and the validation message is sent to the
  user within a fraction of few seconds. Through
  the usage of complex encryption and hashtag
  algorithm, the chance of double spending is also
  reduced.

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Fewer transaction charges

• The reason why any technology fails to evolve is
  high transaction charges, but Blockchain
  technology doesnt attract the charges and in
  certain variants of Blockchain only minimal
  transaction fees are charged.

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Cross-Border Payments

• Block Chain technology has the potential to offer
  faster and alternative method to traditional
  cross-border payment method. The transaction
  costs might be as high as 20 of the transfer
  amount in the case of banks, but if you adopt
  this technology the cost is reduced to 2.

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