“Blockchain technology can enhance the transparency of capital flows, thereby helping to prevent future financial disasters,”.
Now people are starting to talk about the coin for the world, some religious sides talk about the new world order, some have no idea what to expect. But what is very interesting about all of it is that they all agree the characteristics of a new coin and a new economic spectrum coincide with the characteristics of the cryptocurrencies and the free market the world is looking forward to, the system where everyone is equal coincides with the blockchain technology. Crypto egalitarianism is how we should call the new world order, or maybe that’s still to be seen?
There is a crisis: We need trust.
There is a problem that goes down lower than economic crisis: Is the lack of trust. The fact that you can’t prove people’s or businesses' reliability and that your money and good is at risk every time you make a contract, pay for a service or make a money transaction. Blockchain technology solves the problem by introducing the principle: the peer to peer network and scarcity to the digital sphere. Payments of identical amounts can never be copies of each other as they are verified by a global computer network, where everyone participates in the process of verification. Each payment is clearly identified and distinguished from other payments via this mechanism. Also, Blockchain allows secure transactions to be conducted irrespective of the persons involved since the blockchain is not bias towards a social position, race or based on the biggest capital, different income or popularity. Consequently, it acts as a right judge that sees everyone as equal.
Blockchain technology is neutral in relation to the “content” it records because the blockchain makes no difference between the importance of the content, nor can the Blockchain choose if something is worth keeping while others can be corrupted. Both things are to be kept untouched and safe. Thanks to the blockchain’s ability to register economic transactions in a more fraud-proof manner than any other system known, it ensures optimal transparency which is a need nowadays. Each transaction made within the blockchain can be verified by each of the computers involved. Any intent to fraud, corrupt or mess with the content of a block will be discovered and rejected by the chain right away after verification.
That's right A central bank will no longer go to individual banks in order to review their operations and records. Because there is a shared record of transactions, regulators can monitor cash flows as transactions are made. Also, the global usage of this technology is surprising. Blockchain technology can provide numerous other benefits to the health of the financial world.
“Blockchain can increase trust and it can create a system of egalitarian participation and security, helping create new strategies and stronger business partnerships, changing the economic spectrum from a personal and corporative point of view.”.
Blockchain means financial aid
The whole world is going through circumstances that cannot be ignored by anyone. If every asset's value and ownership are securely recorded in a shared ledger that is entirely transparent and immutable, the corrupt practices that allowed institutions to hide their struggles, or that allowed fake identities or robbery will no longer be possible. This will mean an extraordinary change in the way commerce is done, increasing trust and security.
The economy, at present, is ripe with new and emerging forms of consumption. These have resulted from a confluence of technological, economic, and sociocultural phenomena, which are currently shifting conventional forms of commercial exchanges. We cannot be left behind knowing that these changes are to be applied to every niche sooner or latter and also knowing that what makes us stronger is to believe, since others trying to use this technology has led to an intensification of genuine peer-to-peer exchanges with limited intermediation.
Blockchain technology can enhance the transparency of capital flows, thereby helping to prevent future financial disasters, it can increase trust and it can create a system of egalitarian participation and security, helping create new strategies and stronger business partnerships, as through digital coins, changing the economic spectrum from a personal and corporative point of view helping us protect what is most important to us.
Mary Schwartz