Learning about Block chain Technology!

 



Block chain is a system which is used in information record in a way that makes it difficult to change and heck the system, it is a digital leader of transactions which is duplicated and distributed across the network of computer system on the block chain. It is a growing list of records. Block chain technology is invented by Satoshi Nakamoto in 2008.There is no need to publically exist of block chain technology, access to block chain is greater than finance.

Advantageous of Block chain

·         Block chain helps in communicating our system with each other.

·         Decentralizes online identity and reputations.

·         Block chain removes the problem of manipulations.

History

·        First work on secured chain by Stuart Haber and W. Scott Stornetta in 1991.

·        Order for design improvements.

·        First time block chain used for cryptocurency in 2008.

·        In 2016, Blockchain based platform project in Russia.

·        Record of block in give and take way.

·        Many entries in information records.

·        Controlling a group of user in easy way

How to work

·        In cloud hosting platform.

·        Properties for rent.

·        Sharing of information.

·        Safe platform.

 In Finance region

 Rapid spread of block technology.

Fin tech company’s services

Challenges

·        Fraud payment

·        Illegal transaction

·        Industries payment

·        Siber harassment

·        Money fraud

·        Extra money

Decline in law          

No rule on banking e-vallet.

Technical companies are out of banking law.

Finance fraud

Section 463- use of fraud electronic record.

Section 420- CIBER fraud.

Section 383- web hacking

Section 500- wrong use of email.







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