lockchain technology is a decentralized ledger that keeps a record of transactions that takes place across a peer-to-peer network. This technology allows participants from across the network to confirm their transaction without the need for a central authority, this includes money transactions, voting, and settling trades and many more.The digital world is filled with hackers looking to breach information or steal data from sources. With blockchain technology, the information stored has robust security making it impossible for one to hack. S
ince everything is displayed on the network, there are very few chances that there would be any kind of discrepancy that can be created. Most of the traditional financial models that are available in the market are expensive, however, with blockchain it is inexpensive.An individual can send, receive money and financial documents within a couple of minutes, this reduces the burden of waiting for hours together.
Decentralized blockchain allows one to make transactions from individual to individual without the involvement of the third party. This helps saves a lot of money while making transactions, unlike traditional banks.