The world of money and indeed payments has evolved dramatically. Just 10 years ago, international payments were very expensive and slow making it very difficult to send money across borders in a timely fashion if it is possible at all.
The advent of blockchain technology and cryptocurrency has revolutionized the payment industry, making it possible to send and receive money in seconds. Many individuals and organizations have seen the advantages of this technology and are already enjoying it while governments and authorities around the world still kick against it.
But the question is what will a world without physical cash look like? How will you like to be able to pay your school fees from the comfort of your room using electronic money knowing there is no possibility that the money will get missing?
Blockchain technology is here to ensure safe, easy and fast funds transfer from one end of the world to another. Imagine that you could make donations to a charity or for any cause from anywhere without having to go through Western Union and paying exorbitant fees.
A major problem especially in developing nations is corruption. This problem is encouraged by the use of physical cash. Imagine however that every money allocated for project, salaries and all are fully accounted for on a ledger that cannot be altered. Every financial transaction will be made available for anyone to verify and as such, embezzlement of funds will be a forgotten issue.
Processes such as obtaining licenses and other government-issued credentials will be made easy and fast. Imagine that you don’t have to carry credentials in the form of paper which can be destroyed by fire, water or any other factor in the environment.
Physical cash is already on its way out while electronic payment is here to stay. This is the beginning of things to come as more and more adoption is witnessed every single day. Not only the world of money can use blockchain, but machines will also be built using blockchain technology and this has already started with the use of Internet of Things (IoT).
This world of endless possibilities is here already but we need to work towards its perfection. Sharing of knowledge and ideas is what will drive us towards perfecting such a world of better life for everyone. A world that will afford the poor and downtrodden the same privileges as the rich and powerful
At the Blockshow Asia 2018, ideas will be shared and possibilities explored. It will be a week-long opportunity for you to contribute to the growth and development of blockchain to bring about the world we always dreamt of. You can make a donation to this cause or buy a ticket to witness the whole event first hand. Not only will you be a listener but you could also contribute to improving blockchain to build a digital world that makes everything better.