How will Blockchain technology evolve the global economy?
Blockchain technology is adopting new ideas to change the world economy in a much faster way than we think, I would simply like to comment that Blockchain technology has changed the economy completely and will continue to do so in the future with much more potential With this I want to emphasize that if Blockchain technology continues to contribute to the world economy we will no longer depend on a banking system or an intermediary to make our transactions because everything can simply be decentralized. Imagine an amazon.com that only accepts payments with the Bitcoin (BTC) cryptocurrency for example or you can imagine a fiverr that only accepts the Hive Blockchain cryptocurrency for example.
What can happen if all large companies adopt Blockchain technology as a means of payment?
As I mentioned before, if all the big companies in the world adopt Blockchain technology this could be a great change for many 3rd World countries because nowadays there are simply many sanctions and economic regulations in countries like the Bolivarian Republic of Venezuela where the inhabitants of this country cannot access foreign currencies due to the sanctions imposed by the United States of America.
But for the global economic system to be fully decentralized, a stable cryptocurrency such as the Theter dollar (USDT) needs to be developed that does not replicate the value of a global financial institution.
At the time of writing this I feel very powerful because conspiracy theories claim that we live in a pyramid in which the powerful are much higher than us and among those powerful are the most powerful financial authorities in the world according to the conspiracy theory I just want to add a little theory to make the reading more entertaining. Assuming that these theories are true then the people at the top of the pyramid are not going to allow this to happen but from a professional point of view I think that if these systems are totally decentralized then there can be nothing to stop it.
How does Blockchain technology change the model of doing financial transactions?
Blockchain technology uses cryptography to make transactions in a database that is totally indelible Every time we make a transaction or an operation is recorded in a certain Blockchain and this can be modified but cannot be deleted. This allows you to send secure transactions but at the same time you can send anonymous transactions because it is totally decentralized. For example I @kolus290 sent @Cervantes420 20 US dollars and it is fully registered in an indelible database.
In this way I have explained how I have sent p2p money to my colleague @cervantes420 without the need of a bank acting as an intermediary. I would also like to mention that these are addresses that do not have a mailing address or a phone number Let alone a DNI. Why do I say that these Blockchain payments can be anonymous? Simply because nobody knows who is behind my account @kolus290 and nothing knows who is behind the account @cervantes420 and in this way you can maintain anonymity in transactions. Why are transactions with Blockchain technology totally secure? I would like to show an image of my wallet in peakd.
Can you see that I received 0.135 Hive from the @poshtoken account? That is recorded in the Hive Blockchain. For the above I would like to emphasize that this will be recorded forever in a database where all the transactions of the users of a given Blockchain are stored So I can say that these transactions are totally secure.
Conclusion
If Blockchain technology continues to bring benefits or someday a stable cryptocurrency and cryptocurrency-based cash payment system is developed we can leave the financial system behind in seconds. We can also make a stable world economy for everyone since we only have to pay a certain amount of cryptocurrencies for a certain item or service. Let’s assume that a kolus290coin has a value of 1 current US dollar but already this fiat currency if not now called kolus290coin and has the value of the old US dollar and in this way we can replace the US dollar It is very complex and much more extensive but we can make Blockchain technology the only way to make financial transactions.
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