by AJ Agrawal
— 3 hours ago
in Contributors Blockchain has been a particularly disruptive force in the financial world, and especially in handling online transactions. The history of finance has generally been inefficient, centralized, and exclusionary, which makes it both very resistant to change and very vulnerable to bad actor parties.
Blockchain might present a solution for this logjam. Some companies are at the forefront of exploring how blockchain could revolutionize the financial world.
Ontology is a blockchain for building and managing decentralized identity applications, creating a system that bridges the gap between real world and distributed digital data systems. Their network is compatible with existing blockchains, but also with traditional information systems–providing decentralized entity management, secure data storage, key management, and encrypted data analysis on any technological system. Blockchain is a disruptive technology because of its ability to digitize, decentralize, secure and incentivize the validation of transactions.
A wide swath of industries are evaluating blockchain to determine what strategic differentiators could exist for their businesses if they leverage blockchain and the secure amount of trust it brings with every financial transaction. When looking to the future to examine how blockchain could change digital transactions, it’s important to remember what made online sales feasible in the first place.
Retailers and transaction processors created a series of safeguards to ensure that buyers and sellers were both protected. You don’t worry too much about getting your credit card number stolen when you buy something online today, or about failing to receive the item you paid for. Read more from thenextweb.com…
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