A problem I have discussed earlier in this class is the problem with bank transfers, or banks in general. I am sure most of you at some point have tried to access your money and for some reason you couldn’t. Either it was 5 pm and the bank was closed, or it was a national holiday, or you had to wait for the check to deposit, or your had to take the time to do a wire transfer, or you had to wait to open an account (THE WORST!!!). I don’t know about you, but my time is valued highly. I do not want to spend my Friday afternoon waiting in the bank for hours.
Welcome to the solution….[BLOCK CHAIN TECHNOLOGY]
Block chain is changing the way banks are doing business. Using cryptographic technology, an individual is able to create an online wallet in seconds and send money to anyone in the world. With block chain the transaction time goes from days to seconds. With block chain the transaction fee goes from 3%-15% to fractions of a percent or maybe even free. Block chain is a digital ledger and is able to keep an online record. This will stop the use of fraud and use of counterfeit money. It is impossible to change the block chain without everyone’s ‘ok’ on the block chain. This makes it nearly unhackable and impossible to make counterfeit coins.
Keep spreading that STEEM to college students.
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bridging the gap between the time and making them blazing fast would be the awesome thing that will every happen :)
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