unblocking the chains to progress

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The amazing technology of block chain is the greatest assist to personal and business information. This know how has been developed in the last two years and is little understood by many.

This post endeavors to pull the curtain back to understanding of this new development..If you have a background in IT networking it can be easy to see. Peer to peer means an equal distribution and flow of information between people and automated stations like servers.

These usually flow in a distributed fashion from one to another. This is opposed to a hierarchical flow that is vertical in nature from top to bottom. If one station goes out on such a network, the network can go down. Not so with peer to peer.

What called this subject to my attention is the financial implications related to bit trading of cryptocurrency. Indeed, that is the primary motivation for its initial development. The entire process computerizes banking transactions in a novel manner.

The administrators finally got wise and brought encryption design into financial messaging transactions much like it has been used in secure automated network messaging. When it translates to a recognizable and common process like acquiring and trading bitcoins, it catches on like wildfire!.Banking fees go out the window due to faster more secure transactions.

The surprising elements involve the additional non financial applications that can be energized by this technology. Moving from wealth indicators, our health is a valued asset. The records of which need to be handled with the most pervasive security. It can be personally critical if information here is lost or altered.

Elimination of fraud or carelessness is a great reward of using this technology. The elimination of voter fraud is a noted benefit. Encryption can eliminate a perplexing problem in recording votes in the electoral process. Verifiable results speedily delivered can only help the critical process!.

There are further ramifications such as determining ownership in autonomous (driver less) vehicles. The block chain process will also help remove a lot of the tedium and complexity in the legal profession. All with the important help of cost reduction.

Furthermore opportunities can multiply. For us in Wealthy Affiliate. It will pay to look for affiliate opportunities in the cryptocurrency world.

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Recent Comments

8

Thanks for the education.
I hear talk about blockchain but didn’t realize it’s many uses.
To help clear the backlog in our legal system and eliminate fraud while cutting costs would be huge. Same with the healthcare system. We can only hope!
KyleAnn

Thanks for sharing this informative post-Mike. Blockchain is an area which I am interested in and need to develop my knowledge about, Alan

Hey Mike, when I 1st open your blog I had an anxiety attack!!! Lol! After reading this it actually made sense to me then I had to laugh. You've given me some very valuable information, also opening the door for me to view information on crypto currency. Thank you buddy.

Peace💗

My great pleasure Sharon. Thank you!

Mike, good oppotunity. Tks

Thanks Mike

My pleasure!

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