Blockchain is the technological evolution that encourages decentralised, digitalised and distributive modes of ledger placements for eliminating intermediate mediums like banks and other financial institutions for a safe, secure and freely accessible transparent vigorous interface. The blockchain offers you the switch from the fraudulent ecosystem and their steadfast records.
Let’s see some technological advancements powered by BLOCKCHAIN:
- The ledgers are available to access: The blockchains offer you the POCs (proof of concepts) based assurance along with some special features like R3 and IBM tracking of data all across the world to avoid any fraudulent intention. It is trusted by numerous superpowers with their countries wealth hence it’s globally divulged and transparent.
- Single blockchain for numerous crypto-currencies: The old term called “bank upon” was used for trust and reliability but in today’s space it’s amongst the opaque and speculating ecosystem. The various currencies all across the world including cryptocurrencies like bitcoins and other national currencies for real-time exchange by creating, trading on group500 and settlement of different currencies on one access interface.
- Based artificial intelligence and machine learning technology: The smart and non-hackable platform because of globalising AI security assurance. The ML and AI on the blockchains defends the structure of conspiracies, hoaxing, extortions and forgery plus provide optimum efficiency, clarity and real time ledger tracking. The consensus mechanism, protocols and security majors like IBM, ripple, corda by R3, Ethereum etc.
- Different types for varied levels denoted as public, private and consortium blockchains: The blockchains varieties allows the ideologies of ordering the access the documents, search your interest, and receiving the detailed database in the private database of the block chain, followed by the public block chain network where user can become member and can store, generate and obtain the collected database and its most widespread criterion is Bitcoins. And the consortium blockchains are the hybrid model of above two blockchains which means half public and half private so that it is denoted as a permanent block chain network. It offers consolidated data privacy but does not tend to believe in placing all eggs in a single bucket.
- Similar but distinct from bitcoins: The blockchains are the one stop destination which provides technological advancement as a digitalised, decentralised and translucent entrance to the chronicle records of all the real time transactions all across the globe. The bitcoins are a popular category of cryptographic currencies and blockchains are a broader interface which interlinks various currencies all across the world including cryptographics and cryptocurrencies as well.
Conclusion
After good research and analysis, one should indulge in the safe, secure and transparent interface of blockchain to experience the inviolable, outstanding and non-forgeable AI-based arena. When the transactions are available for public then there is no scope of fraudulent activities, thus the software which keeps track over the transactions is the access is hash code as cryptomathic ledger method. Read the above briefly consolidated article to get an idea of the systematic and technological advancement in the financial world because of the block chain.