What’s blockchain technology?

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(J.T. KIM | Concordiensis)

The largest financial institutions are investing in technology utilized by bitcoin to cut out the middle man when making contracts, agreements, or trades.

Blockchains are digital ledgers. They are continuous chains of electronic orders. Cyberattacks on blockchains are difficult to launch. Blockchains are much more reliable than paper agreements.This technique is estimated to save $16 billion in transaction costs.

 

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