Blockchain will transform finance, research, and the world

2. Blockchain will transform finance, research, and the world Blockchain is a database to store information in a way that is different from normal databases. It stores information in the form of blocks that are chained together. This ensures the chronological order of the stored information. In a blockchain database the information can't be copied, hacked or leaked as the information is stored on a distributed network. And therefore, described as digital ledger. Blockchain professionals have developed a number of projects that show us that blockchain will affect the future to a great extent. Use of blockchain is increasing frequently. Finance sector and research sector has tremendous potential for the usage of blockchain databases.

3. The reason behind the potential increase in the financial sector are: - Reliability: The data stored in blockchain is distributed on the network, not copied and the blocks under which information is stored are not under the same roof or under one individual which makes it difficult to hack making the information reliable. The timestamp on the blocks makes it impossible to change any type of information in the blocks. Transparency: Every new transaction is automatically added to the blocks and updated. The decentralized nature of the blocks makes it impossible to hide the information. So anyone can see the live transactions.

4. Chronological order: As the blocks are chronologically chained together it makes it easier to track the transactions in lesser time. The accuracy of the data makes it easier to verify the transactions and that is something which can help the insurance companies to settle the claims automatically. Quicker transactions: By implementing blockchain in banks the time taken to verify the transactions like payment transfers can be minimized. And there is no need to wait for the working day or hours as blockchain is always working and is never on holiday. It benefits the customer, especially business interest entities. The above said points can give an idea about how blockchain can benefit the banking industry solving many issues at once.

5. Research sector: Though early in adoption it has some potential for the research sector as well. Some of the features of the blockchain database can be used in carrying out research work. Record keeping: While conducting a long run research one has to maintain records and that should have some chronological order to it. Blockchain database provides a good record keeping system and the fact that it's timestamp can't be altered makes the data more reliable. Real-time verification: Blockchain platform enables all the participants to access the data all the time and updates the information at the same time. The participants have access to live transactions allowing them to verify it in no time and thus making it more useful.

6. Security of work: Some of the research is not meant for the public records until they are finished. Some research institutions don't want their research work to be compromised at any costs. Blockchain has the potential solution to this problem. Decentralization feature of blockchain makes it impossible to hack the information in a blockchain database. Only the participating members will have access to the research which secures their research work from the non-participating parties.

7. How does blockchain will change the future: As it is capable of saving business time and money while creating more transparency and fairness, blockchaintechnologyhas a potential to impact lots of industries. Some of them are • Healthcare • Banking • IT • Gaming • Real estate • Voting mechanism • Supply chain and logistics

8. Data security- The next important parameter where Blockchain proves to be beneficial is data security and safety. All the transactions in the Blockchain are encrypted cryptographically. It ensures that all the information in the DLT is safe and free from data breach and threat. Data loss and the breach is a key concern for the banking and financial industry. It ensures the complete safety of personal information. 

9. What we are targeting are Ripple and SWIFT. They are redefining how cross-border payments will be transformed in the years to come. SWIFT is an interbank messaging service that has been providing messaging for around 45 years. SWIFT is now improving its services and performance to increase its productivity; SWIFT is competing with Blockchain on the parameter of scalability. But when it comes to the parameter of data security and efficiency, then Blockchain takes the lead. The future Blockchain is going to bring in transformative change in the industry, and if you too want to be a part of this change, this is the right time to enrol for the Blockchain certification by the Blockchain Council. 

10. Blockchain Council Certifications You can check out our certifications, and kick start your career in the Blockchain space today. • Certified Blockchain Expert • Certified Blockchain Developer • Certified Smart Contract Developer • Certified Solidity Developer • Certified Ethereum Developer