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UP, UP AND AWAY WITH CRYPTOCURRENCY

The world of technology has massively changed over the last decade. The overwhelming number of apps, algorithms, and other inventions of code that emerge from week to week is growing rapidly. Despite the swift growth, these developments do not transform society or even upend an industry. The technological advancement tends to be accretive, even slow.
On that issue, lets dive into a technology that may well change everyday business: ‘Cryptocurrency’ is a technology that many predict to be a new currency worldwide. A cryptocurrency is a digital asset designed to work as a medium of exchange using blockchain technology to secure the transactions and to control the creation of additional units of the currency.
Blockchains use complex mathematical functions to create a secure and definitive record of the owner of each asset at any given time. In other words, blockchains keep a ledger – which businesses can also use to track credits, debits, and other transactions. While some are exploring the digital currency ecosystem of blockchain, far more are concentrating on how the technology as a whole can add value to their businesses. For example, Accenture, Microsoft and a United Nations group are collaborating to build a blockchain for digital identity.
Using blockchain technology, Walmart was able to track the shipping history of two mangos is 2 seconds. Using standard methods, this process took 6 days, 18 hours, and 26 minutes.
Cryptocurrency is a promising technology in many industries, everyone wants to get their hands on this hot asset, as a result it is a magnet for brilliant young innovators.


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