Understanding Blockchain, Cryptocurrency, and the Powerful Benefits they possess

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Understanding Blockchain, Cryptocurrency, and the
Powerful Benefits They Possess
Blockchain and cryptocurrency are at the front of
many conversations right now as more people look
to adopting this next-level tech. While the world
continues to navigate this  escalated digital
direction, largely influenced by the COVID-19
crisis, the concept of crypto trading and
blockchain-based structure has now been
positioned as an imminent possibility.
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• A Regal Core Markets report noted that, in
  response to the setback caused by COVID-19,
  various online investment tools and platforms
  have started to appear online, aiming to improve
  trading capacity and monitoring capability.One
  of the reasons why blockchain and cryptocurrency
  is at the top of the conversation is because of
  their structure and capabilities.Blockchains
  decentralized and cryptographic nature creates an
  opportunity for people to confidently transact
  from peer to peer, eliminating the need for
  intermediaries in the process. As the world moves
  towards a cashless society and depends on digital
  transactions for day-to-day functionality, its
  important to consider a few ways in which this
  space has benefited the world.

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Introducing seamless cross-border transactions

• Blockchain provides a way to securely and
  efficiently create a log of sensitive
  information, without worry of tampering or
  altering taking place. This is ideal for virtual
  transactions, as they can take place without the
  worry of infiltration. 
• Instant transactions are a major convenience for
  anyone these days, especially with the prevailing
  COVID-19 situation. But, from a higher level
  perspective, digital currencies make it easier
  for cross-border payments to take place. The
  current system is also plagued by complex, opaque
  operations that have resulted in friction and
  frustration for both consumers and corporates.

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Revolutionizing the Gaming Industry

• Gaming is another use case where blockchain
  and cryptocurrency have proven beneficial. The
  gaming industry thrives off of its virtual goods
  market, where in-game assets are purchased by the
  minute. Digital goods actually account for over
  50 billion of the industrys value. Blockchain
  and cryptocurrency serve as a gamechanger for
  independent outlets in the industry, as well as
  for players themselves, because they transfer the
  control game developers and publishers presently
  have.

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Asset Tokenization

• Picture a world where people can move
  real-world assets (e.g. real estate, gold, etc.)
  almost instantaneously - in a peer to peer
  manner.  A process that would happen through a
  secure digital ledger that keeps records of every
  transfer and can legitimately prove asset
  ownership. This is known as tokenization where
  real-life assets can be converted into a token
  that can be moved, recorded, or stored on a
  blockchain. Assets that were formerly illiquid
  can now be converted into a tokenized form,
  therefore making it much easier for trades and
  settlements to take place. This is far easier
  than the extensive process of clearing and
  settling through third parties a concept that
  is common when trading property, for example.