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4 Ways Blockchain Is Revolutionizing FinTech
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4 Ways Blockchain Is Revolutionizing FinTech
Bitcoin, Ethereum, and other cryptocurrencies are made possible by blockchain technology, creating a whole new digital sector of finance. But what is blockchain? And how is it revolutionizing fintech?
Blockchain technology underpins Bitcoin, Ethereum, and other cryptocurrencies ©luckystep48 via iStock
Blockchain technology is best known as the tech that underpins cryptocurrencies. Bitcoin, Ethereum, and all the other 4000 cryptocurrencies operate via blockchain, making it one of the most important recent innovations in finance.
Here are four ways blockchain is revolutionizing fintech.
1. It creates a digital ledger
Blockchain is comparable to an accountant’s general ledger, according to Carlos Barbero Steinblock