Why Satoshi Nakamoto and the Blockchain has changed finance? : Homework Task

Hello to all the Steemit Crypto Academy students and professors !!! I would like to thank @gbenga who gave good informations about The Blockchain and Blockchain Consensus Mechanism. Truly this is an excellent opportunity offered by our kind blog to people who seek to develop their knowledge on this new world of blockchain.

Today I have chosen to answer the following question " Why Satoshi Nakamoto and the Blockchain has changed finance?" and hope i will improve your understanding as well by my point of view.

Introduction :

Blockchain technology was created in 2009 to enable the use of the Bitcoin cryptocurrency. The blockchain has the capacity to rethink the processes defined in the financial field, mainly because of its advantages in
cost and control. But even more interesting is its impact on broader business processes, which interact with finance, including supply chain management.

Blockchain or the technological revolution: the impacts for finance

The blockchain has the capacity to rethink the processes defined in the financial field, mainly because of its advantages in cost and control. But even more interesting is its impact on broader business processes, which interact with finance, including supply chain management.

1- The financial sector in the age of Blockchain :

Blockchain, the technology for decentralized information storage and decentralized exchange verification protocols, is of interest not only to states but also to banks and far beyond, all economic players. In fact, finance will remain the number one Blockchain market in the coming decade. Indeed, the Blockchain could reduce payment costs and, more generally, transaction costs by eliminating certain intermediaries. Thus, in the financial sector according to a study, the income generated by projects using the Blockchain should exceed 460 billion in 2030.

2- Banks and Financial markets seduced by the Blockchain: data security

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It must be said that banking establishments are particularly fond of this technology, which is based on confidentiality, security and communication. And the applications are numerous: international trade finance, cross-border payments, foreign exchange transactions, asset management, settlement-delivery of market transactions, insurance, etc. Several international banks have made announcements in recent years on these topics. In 2015, many of them signed a partnership with a US company R3 for the use of blockchain in financial markets. Also various stock exchanges are also interested in this technology.

3- Regulators increasingly in favor of Blockchain

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Finally, regulators are showing more and more accommodating with this technology which appears over time as quite simply essential. They are responding positively to Blockchain technology in the financial industry. The support of these regulatory authorities strengthens the credibility of Blockchain technology by helping it to become more conventional.

4-Actors in the world of finance and insurance in the Blockchain era

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Training organizations are also riding the Blockchain wave, offering sessions for financiers and insurers to discover how any centralizing organization can be replaced by cryptographic algorithms and assimilate the tools for programming decentralized digital financial assets.

5-The association between Crowdfunding and Blockchain:

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Crowdfunding should also benefit from advances in Blockchain technology. Indeed, blockchain technology allows unlisted companies to issue securities on the primary market and investors to gain access to the secondary market. The development of Initial Coin Offerings, a kind of cross between an Initial Public Offering (IPO) and a crowdfunding campaign, is perhaps the most striking example of the Blockchain's foray into the financing of small and medium-sized businesses.

Conclusion :

This innovative tool, which could drastically change our relationship with the world, must comply with some sizeable material and financial constraints: technical and energy limits on the one hand and the cost of managing networked computers on the other.