The Blockchain Technology continues in Avanzada throughout the World

The Blockchain technology is still advanced throughout the world thanks to its processes of recording all transactions and verifying them through the system, which are crucial execution actions to develop the Blockchain technology. In essence, what the block system allows on the internet is to transmit property without the validation of trusted third parties, completely from person to person through a distributed network that does not require any intermediary.

In the digital world, when a transaction is made or simply information is sent, it is likely that the content is replicated in several copies. This premise, basic, in the world of internet is what the Blockchain system avoids, because the information with which it operates is entirely original: It destroys the property of origin and does not allow that once it has been sent it can be sent by second time.

In such a way that, the implementation of the Blockchain technology could create a decentralized structure to replace the current financial system. But the Blockchain can be applied to other sectors, which helps millions of companies and corporations to boost their development, as described below:

Reuters reported that “The crypto and finance company FUSION, based in Singapore, has obtained $ 12.3 billion in financial assets from three strategic partners, which will block those assets in the startup’s public Blockchain platform.” Funds were provided by three companies, FormulA, Carnex and KuaiLaiCai, which operate in the fields of asset management, auto finance and restaurant supply chain management, respectively.

In this sense, when depositing the sums in the chain of blocks of FUSION, the participants commit themselves to use the chain of blocks to manage and process the transactions of those funds. By using FUSION, companies will reportedly have access to a global financial network, operate in several cryptocurrencies and have a wider range of financial instruments. DJ Qian, founder of FUSION, commented on the agreement: “FUSION is like a value connector, each company has its own ecosystem and money flows from one player to another, but that ecosystem is really limited. What FUSION is trying to do is create a platform that helps these ecosystems connect to each other once they have digitized their assets. ”

Similarly, Cointelegraph reported that “a US financial technology company Paxos raised $ 65 million from investors to boost its operations, such as providing Blockchain-based services to financial institutions and operating the digital currency exchange and custody of itBi.”

Earlier this week, cloud-based supply chain company Tradeshift said it would push Blockchain’s development with the money it received from its latest round of funding. The round of the series E, which included Goldman Sachs among its main contributors, was worth $ 250 million, bringing the total investment funds to $ 400 million.

In the same order of ideas, the Blockchain Business Registration Project in Dubai will have the participation of Smart Dubai and the Dubai Silicon Oasis Authority (DSOA), while the government contributions come from the Department of Economic Development (DED). Together, they will seek to add additional features to Dubai’s current Blockchain for the commercial project known as the Unified Commercial Registry (UCR).

The Registry will store the registration information of the companies, as well as the monitoring of the changes, and in this way “will speed up the process of establishing and operating a business, will implement the digital exchange of commercial licenses and related documentation for all activities and will ensure compliance regulation throughout the entire Dubai business ecosystem ”

Dubai’s Blockchain 2020 strategy has progressed steadily since it began in 2016. The authorities aim to transform the emirate into a center for technology, using it to boost the municipal apparatus, such as public services and more. “With the Blockchain Corporate Register, investing and doing business in Dubai will become a fluid and intelligent experience, and a testimony to successful innovation,” said Sami Al Qamzi, CEO of DED.

IBM Middle East general manager Amr Refaat shared the enthusiasm as the IT giant became a leader in Blockchain experimentation in its own right for the past two years. “Dubai is a leader in innovation with many ambitious projects that have already become reality” As you can see these are just some examples of the impact that technology is having in the financial and business world, each day is accepted to a greater extent by the multiplicity of functions that can be performed through it that will continue to change the economic world and financial in the future


Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.


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