Blockchain Can Be Programmed To Record Virtually Everything Of Value
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
-Don & Alex Tapscott, authors Blockchain Revolution
In an interview with JP Parker we discussed that Blockchain is very important because it provides a clear ledger and record that is immutable and cannot be changed.
If we consider our current transactional processes, we see billions of transactions made every day with trillions of dollars being moved around our financial systems.
Much of this process involves a paper trail and administration which results in theft and fraud in the sector.
In a recent publication from the Harvard Business review:
“45% of financial intermediaries, such as stock exchange and money transfer services, suffer from economic crime every year…”