bitcoin school university blockchain

Cryptocurrency has become one of the most popular subjects of recent times with investments in currency gaining in the thousands of percents. The underlying force that runs all of these cryptocurrencies is known as blockchain.

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Blockchain technology is essentially a distributed ledger system that works by using the entirety of those who are connected on the network. The system works by having all of those connected on the network work by verifying transactions through the solving of computational problems on high powered computers.

With the high amount of hype and money being raised in the cryptocurrency industry, it is only a matter of time before blockchain becomes the technology of the future.

One of the best ways that a company can use blockchain technology is to focus on using it for customer management. Penny Delgadillo, SAPs SVP, global audience and strategic partner ecosystem marketing stated that “blockchain is changing business process and we think about that in terms of the whole customer management lifecycle.”

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The use of initial coin offerings or ICOs is something that has often been looked at as fraudulent in terms of raising capital. With the transparentness of the peer-to-peer network, it has become more and more legitimate as time has gone on. Businesses should be able to use this type of fundraising, but in unique ways so that it does not end up harming the company over all.

One of the main issues with using cryptocurrency or blockchain in a business is the extreme volatility. Because the currencies are so extremely volatile, no company can accurately price their items. If the currency is able to stabilize itself and stay at a constant price, there is a chance in the future that it may be able to be used as a valid form of currency, but not until that point.


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