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Blockchain
Business Fields in FinTechSys
Blockchain
It is a technology in advanced databases that can be used to execute, store and verify transactions of every kind, using cryptography and complex algorithms. It allows transactions to be shared across a network of computers and then authenticated by network participants without the approval of a central authority.
Why Use “Blockchain ” Technology?
This technology has gained great confidence and credibility due to its continuous development and strong advantages. Perhaps the most important of these advantages are:
- The technology greatly enhances the security factor, helping to prevent fraud and unauthorized activity in transactions.
- This technology provides complete transparency to the network contributors or operators, who have access and real-time traceability to data at every step of the process at the same time.
- Increased efficiency and acceleration of operations thanks to transaction automation through “smart contracts”