The Investing world has not witnessed such a phenomenal buzz around the digital space as the past two years have been, the rise in prices of Bitcoins and other cryptocurrencies like Ethereum has been consumed by many takers peaking the price sky high, making it probably the most volatile product in the exchange world. Technical analyst, financial experts though seem to be wary of the fact that this may lose its sheen, on the contrary, are not ruling it out as the future way of trading.
Novices may not be interested in putting their money in this entire highly irregular pricing, have another way to keep an eye on them, is the immense learning from the behavioral pattern of the Bitcoins and invest in the Blockchain space.
This technology is unique and is now at a stage what internet was during its early days, there is a lot of learning, accounting, legal and regulatory aspects if mastered now will be of great use to the economy and be important resources around the world. Being the most popular outcome of blockchain technology, Bitcoins have already made the greatest amount of impact which one could ever dream of in the digital space.
What is Blockchain Technology?
An entirely new form of a database which is available for the public to write, edit, update and share it anyone in the world, similar to Google spreadsheets, the added advantages being;
- every update in the database is final and it cannot be changed, it is just there like engraved in stone
- no one can tamper with the updates and that is the uniqueness of this technology,
- it can be used in other industries like healthcare, education, supply chain and where ever possible to fit in
- it can speed up the way transactions which require verification and recorded in the public ledger which is not erasable
- it enables different situations to connect peer to peer and most of the day to day functions are performed faster and with ease with this technology in place
With the new age concepts catching up there are different industries which are adapting to this technology to track their services, and also identify any probable negative impacts, for example food and beverage industries are using this blockchain to understand the food tracing which took days together, thanks to technology it is being done in a matter of seconds, to identify any probable foodborne illness consuming the food coming from the retail unit, making the Blockchain technology a clear winner.