Blockchain-Powered Transactions — Reducing Costs and Removing Intermediaries.

The rapid evolution of technology makes it imperative for all stakeholders of the financial ecosystem to welcome the changes and adapt to them as seamlessly as possible. Technology challenges traditional processes and conventional beliefs and provides innovative solutions for obsolete and redundant ways of doing things. Banks are one such institution that has long been enjoying the status quo. Technology intends to change this.

Blockchain — An Incorruptible Ledger
With the introduction of cryptocurrencies back in 2009 came the revolutionary concept of blockchains. Blockchain technology eliminated the problem of dual recording of money and ensured that cryptocurrencies would have a permanent record of their transfers and ownership, free from being tampered or simply, hacked. This technology holds immense promise for the imminent future and a lot of applications of this technology are already under development. Blockchain technology is also redefining the way financial transactions are being carried out today.
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