Blockchain news: The Increasing Popularity of the Technology

Reading the latest and updated blockchain news you may have come across with the fact that there are some events that aim to promote the technology among companies and people. One such event was the Innovate Finance 2016 Summit. Here a panel of financial services experts discussed adoption of blockchain technologies.

The major motto of the Innovate Finance 2016 Summit was to discuss why the firms should start experimenting now if they hope to quickly adopt the distributed ledger technology blockchain. Various portals covered this in the latest blockchain news and claimed that blockchain technology should be promoted and used by the companies for the better. 

One of the participants even claimed that standards for blockchain do not need to be set in stone before the distributed ledger technology is implemented in firms. He was of the view that just like the internet standards blockchain could take a decade of play and experimentation before standards are established from best practice.

Blockchain Technology News from Around the World 

Several of the latest blockchain news providers claim that many systems should be pieced together with the technology, as different applications using distributed ledger technology will serve different functions for greater use. Needless to say in the blockchain world, transparency and efficiency are the keywords that attract the people and governments. 

Governments and central banks are open to the idea of blockchain technology as according to them it can solve a lot of their issues. For instance, the latest blockchain news from Haiti was about the decision by the government that it will keep land records in blockchain technology. The rationale behind the decision is that it will reduce corruption and increase transparency. 

Blockchain has Bright Future 

Bitcoin, a produce from blockchain technology is extremely popular among the users and even the brokerage firms. Using Bitcoin is currently the easiest way to understand how to use blockchain technology. For the first time even ordinary people have become powerful enough that they can make money on their own. 

Needless to say several of the blockchain news claim that official bodies in the financial services industry are keen for the adoption of blockchain technology because it provides 100% auditing and accountability as records are instantaneous and cannot be tampered with. Thus, there are lots of areas that the blockchain technology can be used for transparency and other reasons.

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