Blockchain is at the centre of the evolving world of finance. The technology is being used to improve the security and speed of transactions across the world. Negating the need for a trusted party to oversee digital transactions, the technology offers a way of registering and distributing information that is controlled by the robustness of its own architecture.
With the increased interest of challenger banks, app-banks and cryptocurrencies, a financial revolution is underway. Blockchain is arguably the FinTech with the greatest power of all. To find out how blockchain and cryptocurrency are changing the financial industry, and to see what the future holds for each, you can book a speaker to discuss the opportunities and trends relevant to your business or investment plans.
With experts available to speak on the value of blockchain technology, the benefits and the investment opportunities booking a blockchain or cryptocurrency speaker can be richly rewarding.
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Combining a unique set of blocks which conceals personal identifying information, blocks are given an identity using a code called a hash. From here, a new block is added to the blockchain, recording and distributing digital information that can't be tampered with.
Why is blockchain such high security?
Due to the effort, it would take a hacker to change a transaction within the blockchain and the subsequent affect that would have means hacking into the blockchain is next to useless. If a hacker was to change the information on a block, a new block would be added to the chain with a new hash. A cybercriminal would need to change every block in the chain to cover their tracks. With the odds of solving one of the complex math questions in a blockchain standing at 1 in 5.8 trillion, programmes need to operate with astonishing power and energy - meaning the benefits to a criminal, of hacking the blockchain are easily outweighed by the cost.
How is Blockchain used?
Blockchain technology is behind the increasing usage of cryptocurrencies such as Bitcoin and Ethereum and is emerging as the technology trusted for digital transactions for people worldwide. Growing yet in their infancy, cryptocurrencies are in the eyes of many, the future, but until mass adoption takes place it is confined to its niche status. Likewise, the use of blockchain in banking is almost inevitable but experts say it will likely be used in sectors of banking, such as trade finance, and not in the industry as a whole.
To learn more on the implementation of blockchain, investment into Bitcoin and other cryptocurrencies, as well as the financial technologies that are changing finance, you can book a cryptocurrency speaker or blockchain specialist today.