Why Satoshi Nakamoto and the Blockchain has Changed Finance - A Task From @gbenga Prepared and Submitted by @maggystar //2/03/2021//Power Up 100%

WHO IS SATOSHI NAKAMOTO

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Satoshi Nakamoto is a fake name used by the person, people, or entity who created Bitcoin to hide their true identity. In 2008, Satoshi Nakamoto published the original bitcoin whitepaper, describing bitcoin as “A Peer-to-Peer electronic currency. Satoshi Nakamoto is also the inventor of the first blockchain database.

WHAT IS BLOCKCHAIN

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A blockchain is a chain of blocks, each block in the chain contains multiple messages. These blocks are linked together using cryptography.
Blockchain is also a digital ledger of transactions. It was invented to keep a record of the cryptocurrency’s transactions. Blockchain technology makes it difficult or impossible for stored records to be changed or hacked.

WHY SATOSHI NAKAMOTO AND THE BLOCKCHAIN HAS CHANGED FINANCE

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Presently, international transaction from a bank uses a secure database which must be opened and closed at both ends. This process is time-consuming, costly and above all, it requires a high level of security. The international transaction usually takes several days to get to its recipient.
Blockchain being a very secured and incorruptible digital ledger of the transaction would allow transactions worldwide to be made at the click of a mouse.

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Bitcoin is a digital currency, that is to say, it is not physical, it is stored in a digital wallets with unique and complex keys
When a bitcoin is transferred any data that is recorded on a blockchain can be tracked in real-time, leaving a very detailed audit trail.

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