Crypto may have been invented as a currency, and it may have gained popularity as a high-return asset, but there’s another component to the digital revolution that’s upending the financial industry: blockchain. Can blockchain be the next big step in overhauling how we move money from one place to the next?
The costs of the paper check system – both in time and money – have been with us for centuries. But there’s a new technology called blockchain that looks as though it could provide a solution, with an online ledger that’s universally accessible and completely transparent. Blockchain also can't be hacked or altered and costs next to nothing. That may sound too good to be true, but a look back at how the paper check system was improved by the rise of digital money demonstrates that what sounds like a revolution today is often commonplace tomorrow. And blockchain may be the key to unlocking the future of money.