How the Blockchain is Powering Our Future

Not only beneficial to the banking sector, the application of blockchain technology can also be adopted by all industries that relate to data recording, where each interested party has a personal server or does not rely on a single server which generally involves third parties, both corporate and internal cooperation. .

In addition to banking, he added, one of the blockchain is very useful for accounting, namely in terms of time efficiency, data security where each party will be able to monitor with each of their servers so there is no difference in recording and avoiding data deviations.

Blockchain technology was born in response to the concerns of a number of parties about the workings of centralized software. This technology was born in 2009 along with the emergence of Bitcoin – the virtual currency that is becoming the current trend. Blockchain technology is the technology that underlies the running of Bitcoin without relying on centralized servers and thus avoids the risk of downtime. The blockchain system is present by turning a centralized approach into decentralized. In principle, blockchain technology conditions each server that runs this software to form network consensus automatically to replicate each other’s transaction data and verify each other’s existing data.

Each blockchain company defines it according to their wishes, you can see it for yourself on Google. But there is one main equation that the 4.0 blockchain is a faster mechanism for transaction per second (TPS), then extraordinary world-class service coverage. For example about health issues which are of concern throughout the world and developed countries and international organizations involved. Some technology companies claiming to be in the 4.0 blockchain zone are optimistic that the platform can penetrate the boundaries between countries quickly so as to improve the current conventional health system. Bitcoin, which is a payment platform with a speed of 7 polling stations, clearly does not meet these criteria.

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