Blockchain generation,
Blockchain generation is a actual revolution in the world of trading and other fields. It will be a comprehensive and reliable technology to create an integrated system like the Internet system that we are financially related to.
According to scientists,blockchain technology first appeared in 2009 in a research paper by Satoshi Nakamoto. Transactions between users of this technology are carried out without any intermediary, as it is a decentralized technology, meaning that no one controls the operations that take place through it. There are no government agencies, for example, that control the course of things in it, and this technology relies on the peer-to-peer system, which is the exchange of files and data between two people's computers directly on the Internet.
This technology will be a window for innovations and inventions in the world of the Internet, and its star will shine in the sky of business sectors with the changes it will bring to many companies spread around the world, including money transfer companies in the event that they do not keep pace with the latest developments and adapt to the work of this technology.
According to experts,Blockchain is a cryptographic technology, meaning that the data that is transmitted, or the money that is traded through it, is anonymous. For example, if Shaima sends 3 bitcoins to Muhammad, no one will be able to know the identity of Shaima or Muhammad, because the dealers in the blockchain system are just ciphers.
According to many scientists,Blockchain technology is basically just a new way to maintain agreements. The big difference between blockchain technology and traditional methods is that the blockchain agreement is not maintained centrally by a single authority.
To clarify the difference, let's say that the banks record the agreement of people's ownership of money in a single document containing a list of all customers, their accounts and their balances, and this is agreed upon between the bank and customers. Every time the customer wants to send some currencies to another person, the bank sends a confirmation message because it is a link between the sender and the receiver, and the bank updates the agreement by subtracting a balance from the sender’s account and increasing the account of the recipient, and the process takes place centrally through the bank. Some individuals decide that they do not want the bank to be responsible for maintaining the agreement again, and that they dispense with the bank in managing their money and their accounts.
In fact, these individuals did not want any authority to control, manage and maintain their accounts, and they decided that anyone could be involved in maintaining the agreement if they so wished. There are many people who accept this role, and blockchain technology acts as an electronic ledger system for processing and transcribing transactions, allowing all parties to trace information over a secure network that does not require third party verification.
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