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What is Blockchain? We explain the technology of blockchains

As a secure, distributed ledger, well-designed Blockchain technology not only eliminates intermediaries, reduces costs, and increases speed and reach, but also offers greater transparency and traceability for many financial processes.

In this regard, PwC produced a report ( Blockchain is here. What's your next move? ), For which 800 high-level executives from financial institutions were interviewed: banks, payment companies, insurance companies, hedge funds and other companies. investment between July and August 2020. Companies were required to have recorded at least $ 1 billion in revenue in 2019 to participate, including Latin American companies, who are part of this global trend.

40% of respondents from top tech companies around the world currently have a blockchain development in production. Meanwhile, 90% of executives think that Blockchain will be more important in the next three years. Meanwhile, Blockchain technology will increase global GDP by $ 1.76 trillion in the next decade.

Continue reading: https://www.entrepreneur.com/article/369991

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