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Blockchain Technology is defined as Immutable collections of Transactions forming Trustless Distributed Ledger which doesn’t need Third Parties.

Challenges/Issues today Financial Systems like Banks face: ”
  • Interest Rate.
  • Transactions charges (ATM, Bank Transfer, Net Banking, Cards)
  • Financial Crisis & Depression
    • Bank Lent out all money to individual or company who could not repay the bank, this led to real estate fall and huge financial crisis. Eg 2008 financial crisis.
  • Net Banking Frauds.
  • Centralized system/power
  • Single point of failure.
  • Private Ledgers.
  • Prone to Hacks
  • Rules & Regulations Norms by Government or Authorized body
  • Double Spending on Online Transactions.

How Blockchain technology can solve the Problem
  • Open or public distributed Ledger which holds encrypted data.
  • Decentralized system/power.
  • Hmmutable to hacks.
  • No Double Spending.
  • Zero or minimal transaction fees.
  • Elimination of Intermediaries.
  • Transparency with lower cost.
  • Hire Web Designer
  • Hire PHP Developer

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