modern technology allows people to
communicate directly voice and video
calls emails pictures and instant
messages travel directly from A to B
maintaining trust between individuals no
matter how far apart they are when it
comes to money people have to trust a
third party to be able to complete a
transaction block chain technology is
challenging the status quo in a radical
way by using math and cryptography
blockchain provides an open
decentralized database of any
transaction involving value money goods
property work or even votes creating a
record whose authenticity can be
verified by the entire community the
future global economy will move towards
one of distributed property and Trust
where anyone with access to the Internet
can get involved in blockchain based
transactions and third-party trust
organizations may no longer be necessary
the uses of blockchain technology are
endless some expect that in less than 10
years it will be used to collect taxes
it will make it easier for immigrants to
send money back to countries where
access to financial institutions is
limited financial fraud will be
significantly reduced as every
transaction will be recorded on a public
and distributed ledger which will be
accessible by anyone who has an internet
connection think of it as wills and
contracts that execute themselves or
dated proof of existence for ideas much
like a patent blockchain will become a
global decentralized source of trust but
not everyone is ready to embrace it a
huge proportion of trust services from
banking to notaries will face challenges
on price volume and in some cases the
farrance survival public authorities
could find it more and more difficult to
enforce traditional financial
regulations due to the new possibilities
offered by the Bitcoin network to bypass
traditional financial intermediaries
unimaginable evolved to meet society's
needs more cheaply and potentially more
securely will government's financial and
legal institutions embrace blockchain
what will happen to the ones who don't
you