Millennials - Trust - Finance - Blockchain - Maarten Leyts
Blockchain is claimed to be the transparent system that will gain back Millennials’ trust in finance. Blockchain is the means to an end, gaining trust has everything to do with giving back control to the consumer. Do banks dare? Blockchain is most known as the technology underlying Bitcoin. What makes it special is that it uses a public and fully distributed network of nodes and users to move any digitalized asset from peer to peer, that anyone can access the ledger and see the transactions which are validated without any intermediary. The transparency of the process even extends to the name itself: transactions are recorded in blocks which are cryptographically secured and sequentially chained together from the oldest to the newest, offering a non-refutable and unbreakable record of data . Big banks are now seeing its massive potential to make the existing financial system more efficient , and find cost savings in a landscape that is coming under i...
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