Articles

Leveraging Big Data Analytics on Bitcoin Transaction

The financial crisis of 2008 has led people to lose trust towards banks and they even inclined towards third parties as the facilitators of their financial system. In parallel, in order to obtain a new paradigm in the way information is shared and records are maintained, blockchain technology emerged with a potential to create new financial and economic system.

The most important aspect of blockchain is that it is completely decentralized, as no person or company controls its integrity. This makes it unyielding, and information is retained permanently on the blockchain network. As a result, when bitcoin, the first cryptocurrency based on blockchain emerged in 2008 it turned out to be an alternative currency and financial ecosystem which was independent from the financial institution.

Source: cioreview.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s