Why is the Blockchain Technology Important?

Let’s say that a new technology is developed that could allow many parties to transact a real est deal. The parties get together and complete the details about timing, special circumstances and financing. How will these parties know they can trust each other? They must verify their agreement with third parties — banks, legal teams, government registration and so on. This brings them back to sq one in terms of using the technology to save costs.

Yearly stage, the third parties are now invited to join the real est deal and provide their input while the transaction is being created in real time. This reduces the role of the middleman significantly. If the deal is this transparent, the middleman could be eliminated in some cases 区块链香港. The lawyers are there to prevent miscommunication and legal cases. If the terms are exposed in advance, these risks are greatly reduced. If the financing arrangements are secured in advance, it will be known in advance that the deal will be paid for and the parties will honor their payments. This brings us to the last stage of the example. If the terms of the deal and the arrangements have been completed, how will the deal be paid for? The unit of measure would be a currency issued by a central bank, which means dealing with the banks once again. Should this happen, the banks would not allow these deals to be completed without some sort of required research on their end and this would imply costs and delays. Is the technology that useful in creating efficiency up to this point? It is not likely.

What is the solution? Create a digital currency that’s not only just as transparent as the deal itself, but is in fact the main terms of the deal. If this currency is interchangeable with stock markets issued by central banks, the only requirement remaining is to convert the digital currency into a well-known currency like the Canadian dollar or the You. S. dollar which can be done at any time.

The technology being alluded to in the example is the blockchain technology. Trade is the central source of the economy. A key reason why money exists is when it comes to trade. Trade make up a large percentage of activity, production and taxes for various regions. Any savings of this type that can be applied across the world would be very significant. As an example, look at the idea of free trade. Prior to free trade, countries would scan and move with other countries, but they had a tax system that would tax imports to restrict the effect that foreign goods had on the local country. After free trade, these taxes were eliminated and much more goods were produced. A good small change in trade rules had a large influence on the world’s commerce. The word trade can be broken down into more specific areas like shipping, real estate, import/export and structure and it is more obvious how lucrative the blockchain is if it can save even a small percentage of costs in these areas.