How does the block chain change digital services?

Block chain technology is one of the most focused technology today, it is entering the digital business. It is likely to change the digital industry in data storage and management.

Briefly, the block chain is distributed in distributed security storage in the network. This storage is open source and point-to-point (P2P), which is not controlled by central institutions, but the public is transparent.

Once stored, the data cannot be erased and almost unstreliable. In other words, it is like a book, and the record is arranged in a stack called the block, using an encrypted connection to verify each other. Each block uses a hash function to identify and reference the previous block. Trust in this technology is based on the masses’ cooperation.

Therefore, block chain technology is expected to change digital services in asset storage and management. It will affect various industries, whether financial, retail, transportation, etc.

Why is the block chain so popular?

Today, the block chain has become a topic of everyone. But until 2009, Bitcoin entered an alternative financial market, everyone noticed this. Bitcoin is very popular as an encrypted currency. Recently, people have chained the underlying technology block as subversive of digital commercial world.

One of the primary reasons why it is so popular is that it is a safe value and information transfer form. Therefore, it is a non-tampered safety payment option. Block chain technology also eliminates the need for intermediaries because users can interact directly with the classification account.

In addition, the use of block chain technology transfer value or money cost is almost zero, thereby also reduced the cost of cross-border transactions.

How to control digital services in block chains

Essentially, the block chain is a distributed database. In short, it can be considered a giant spreadsheet running on millions of computers around the world. And it is open source, the underlying code can be modified, so it is transparent. Because it is a point-to-point system, it does not require an intermediary to process the transaction.

With the most advanced cryptography, the payment protocol can be automated, irreversible and tamper-proof. More zone chain messages, please pay attention to the download area block APP, the Global Block Chain Regulatory query app. However, payment is only one aspect of a larger picture of the block chain. In fact, it can be used to record any type of structured information, such as people who have a global marriage registration or a specific land.

Therefore, the block chain not only helps financial transactions, but also a non-tampered, non-crafted natural distribution digital asset database.

How to subvert the digital asset

The block chain has huge potential enough to change the way we manage digital assets. Considering the ability to have this technology, it can disrupt the flow of financial transactions.

For example, it can be used instead of traditional banking and financial institutions with a P2P system working in the background. Bitcoin has always been a hot topic and may get more value in the near future.

The block chain will also pave the road for the “intelligent contract”, such as a safe form of financial form, saved in the trust network and computer code, and sent to the recipient according to future events. Not only contracts, but also headlines, contracts, and other important documents can be shared in public classification.