From the time of gold coins to hard cash currently at the plastic money (credit card & debit card) to the newly reverberation of Cryptocurrency development. The reason being these all evolution is safety, security and system efficiency. And in this closed ecosystem of finance where day to day newly scams was popping up. The blockchain development can play a significant role.
To understand the development, we need to first understand this example. Suppose you went for shopping and purchased different things from different shops with cash. And when you came back home you did the calculation on a register. Definitely, this would be a tedious job and there are various chances of mistakes in your calculation. So next time you decided to use your plastic money and paid everywhere with your credit card and now you can simply check your balance sheet. Here chances of mistakes are low but still, there are numerous cases being registered of faults in banking calculations.
From the time of gold coins to hard cash currently at the plastic money (credit card & debit card) to the newly reverberation of Cryptocurrency development. The reason being these all evolution is safety, security and system efficiency. And in this closed ecosystem of finance where day to day newly scams was popping up. The blockchain development can play a significant role.
To understand the development, we need to first understand this example. Suppose you went for shopping and purchased different things from different shops with cash. And when you came back home you did the calculation on a register. Definitely, this would be a tedious job and there are various chances of mistakes in your calculation. So next time you decided to use your plastic money and paid everywhere with your credit card and now you can simply check your balance sheet. Here chances of mistakes are low but still, there are numerous cases being registered of faults in banking calculations.