Blockchain For Financial Market Applications and Services
Abstract
The world of Blockchain and the digital currency has paved the way for a new understanding of decentralization. This not only poses a challenge to the traditional perspective of financial transactions but also focuses on eliminating the loopholes inherent in traditional financial systems. This proves how sophisticated the blockchain technology has been lost, and also how it is able to reduce global boundaries by offering an opportunity to have a different and better future for the whole world.
Though the blockchain technology is still at its initial phase, and encounters several hitches in terms of quality of its service, ease of use, and performance, every generation of Blockchain is innovative, which makes it a better choice. The main force behind the Blockchain technology is how it has been able to utilize a decentralized system. However, the lack of a real estate application, has been one of the drawbacks to the full adoption of the Blockchain technology. Qompass thrives to provide solutions to the hitches commonly faced by the generations of Blockchain, and also offers an innovative platform that can help in creating a bridge that connects the world together.
Introduction
Cryptocurrency, a form of digital currency that is backed by its system of operation to be embedded in cryptography, is revolutionizing the monetary system of the whole world right now. Cryptography is rapidly becoming a medium of carrying out monetary transactions by traders, merchants, and even private individuals, in a more decentralized form. In general, cryptocurrency is a typical instance of how human ingenuity backed by strong societal commitments, has paved way for better and innovative solutions to the intricate issues of having to handle the exchange of any form of value through human interaction.
Backed by the revolutionary technology of Blockchain, cryptocurrency offers the steps needed for a more decentralized world of finance. Driven by the mathematical process behind it, this new breakthrough digital currency is a monetized form of uncompromising and non-manipulative advantage, which makes it stand out from all previous forms of financial exchange.
With the trend of exponential growth and enhanced adoption rates worldwide, there is no doubt that Blockchain and cryptocurrency technologies are clearly in their boom season.
From 2009, which marked the start of popular Bitcoin, to date, cryptocurrency has quickly climbed the ladder and gained status as a legitimate and tradable commodity practiced on a wide and global scale. Big liquidity, in the form of billions of dollars, is traded on a daily basis, and Bitcoin is just one of the 850 crypto currency estimates used to buy, sell and trade today. However, the features of this currency range from the very practical to the practically useless based on the underlying technology.
The implementation of any cryptocurrency is based on its ability to validate, transfer, and manage finances better than traditional central financial systems, regulatory agencies, and other international fiscal agreements. The record capturing this capability is given to cryptocurrency by fluidatically technology from Blockchain, a strong and established institution concerned that its infiltration might take over the global financial system.
Advantages of crypto currency
Blockchain and cryptocurrency technologies have revolutionized the global financial system because the digital currency is quickly becoming a concern even though it is hated by government and various figures in the traditional banking system. Most people are afraid to venture into either cryptocurrency because of their lack of knowledge or they have heard worse than good, which mostly come from supporters of the traditional financial system.
For more information click the link below :
Website : https://qompass.io/
Whitepapper : https://qompass.io/assets/docs/QompasswhitePaper.pdf
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