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Blockchain and cryptocurrencies – what is the real driving force?

blockchain

Surely each of you knows that a blockchain is needed for cryptocurrencies to work. But blockchain has many uses beyond cryptocurrencies. Have you ever thought about what is the real driving force for cryptocurrencies? Yes, it goes far beyond blockchain.

Let’s take a look at the main topics that drive the use of cryptocurrencies and blockchain forward.

Climate change

Not everyone agrees with the claim that climate change exists. However, the truth is that efforts to use the market for environmental benefits are real and indisputable. These are efforts to reduce the carbon footprint and reduce the amount of carbon in the atmosphere. Unfortunately, the data provided to us may often not be valid and correct. Decentralization could be a possible solution. The decentralized nature of the blockchain can provide a set of participants to control the data and increase accuracy and also gain more confidence in the data. Blockchain could therefore be very helpful in this solution.

Infrastructure change

Innovation is needed, and you have probably heard about the transformation of the digital infrastructure called the central bank digital currency (CBDC). Many countries have started on the project, creating their own digital currency. However, only a few people know that the blockchain is also present in this effort. The BSN network is a service network that aims to connect all companies at a low cost into a standardized platform.

Pandemic data

The beginning of the pandemic was rough. People did not know what sources to believe, where to get the right information, and there were many half-truths and lies about the degree of infectivity and virulence of the disease. It is quite logical that many people have stopped trusting information in this way. As the pandemic progresses, it is important to have a uniform approach to the type and format of data to be collected and to ensure that it is provided correctly. This would be a great case of using decentralization and decentralized blockchain.

Conclusion

Decentralization has a huge potential and many various uses. The blockchain comes hand in hand with cryptocurrencies, and they will give you freedom in finances. If you want to learn more about them, we recommend you take a look at our study materials.

Source: forbes.com

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