There are Still Those That Don’t Quite Get It

Enjoying a personalised service is rated high amongst consumers whether that is paying for home insurance online or being able to pay by mobile casino UK, consumers like to be informed, and in turn their choices and decisions become more personalised.

For instance, when playing at an online casino, which bonuses to opt into or which new game are on offer all matter. Information counts and getting that information to the consumer in such a way that is easily understood is vital.

Today, most know a certain amount about Bitcoin, whether that has been gleaned off the internet or read in the daily newspapers, but it is still surprising just how many consumers still do not realise how beneficial it is, especially in today’s social climate where divulging personal details is frowned upon by many.

Just like paying for your online casino games using your monthly phone contract or pay-as-you-go-account, Bitcoin releases consumers from the worry of identity fraud and other, online crimes.

Bitcoin provides a decentralised way to pay for services and goods with no ties to any financial institution or government and this means for the consumer that all transactions can be completed faster and more securely than other, conventional ways of paying.  Paying for goods and services using bitcoin is also completely anonymous.

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Although many people have heard of and know a little about bitcoin it seems that fewer are aware of what Blockchain is, and what it provides.

Since its conception Blockchain has evolved and grown allowing digital information to be distributed, yet importantly, not copied, and today the tech community is finding other potentials for the technology other than crypto-currency.

Not only can blockchain be programmed to record financial transaction but practically everything of value can also be recorded, which means that the web as we currently know it could easily gain a new layer of functionality.  Blockchain brings extra security which could mean that new businesses operating on the internet would be able to rid themselves of the traditional institution of finance.

With direct interaction between parties, peer to peer payments are possible and with the decentralizing of file storage, distributing data throughout the network protects files from being hacked or lost.

In fact, it is thought that blockchain technology holds such great potential that savings around the world could reach up to $6 billion a year.

James Woods

Tech Geek and avid developer.

Published by
James Woods

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