Why blockchain technology can become the world payment system?
Let's summarize a bit and keep in mind that Blockchain technology is an idea based on decentralization, which means that it does not have a financial or government entity behind it.
Apart from the aforementioned, we have to take into account that the block chain technology, better known as the famous Blockchain, has very complex mathematical calculations and is very difficult to carry out for an ordinary person, which makes it very difficult. Let's also talk a little about smart contracts, we can make them without anyone being able to interfere friends.
Everything mentioned above was only to emphasize how the system behind the main cryptos works. We will need at least 270 lives to write and write this whole process and the one that comes in the future, friends. You are willing? haha it's just a joke.
Perhaps using the current Artificial Intelligence technology we could get to know what the future would be that is coming in Blockchain technology.
Here I will show a photo of my computer of the written article, to explain the following:
Our work begins at that exact moment when we have to fit a block into the chain that is behind it. In this case the miner takes some transactions and then makes the attempt to add the hash while creating a block in the chain, I hope you have understood a little why I will explain the following.
The security in the Blockchain system resides in each block of the chain, but we could think that if someone hacks a chain and changes it for another and thus manages to take, say, 60 BTC.
Let's start by proposing the following: suppose we live in the middle ages in a city called Etherium with an economy nothing like the one we have today. In this city the currency is called Eterr and has no price.
Therefore, the Eterr currency has to be validated with a document, assuming that we buy 3 kilos of rice with 7 Eterr in the supermarket and then everyone in the city approves and endorses that document.
The same thing happens with the Blockchain, but instead of a physical document it is a virtual document.
Blockchain is one type of distributed ledger suitable to create decentralized applications, both financial and non-financial.