In this post we are going to talk about the technologies of the future, and the present with currency. We will tell you some of its drawbacks, with which you must be especially careful.
Cryptocurrency
A cryptocurrency is a virtual currency that has no intermediaries. This allows us to secure movements, control them and verify accounts.
Therefore, this system guarantees us the security, integrity and balance of the account statements.
Its most notable advantages are:
- Reduces the cost of the transaction, since there is no intermediation.
- Fast delivery, the seller receives the amount in only a few minutes.
- Eliminates the need to use financial agents to carry out transactions.
What else should you know?
The value of a cryptocurrency can change every hour, you can make an investment and earn a lot of money but the value may go down and you don't know if it will go up again. Yes, quite an adventure!
Cryptocurrencies are not insured by the government, so you should know that if you deposit money in a bank account and you have a problem, the government may not be able to help you recover your money.
Blockchain
The blockchain is a record book which collects all the data of an exchange with value.
How does it work?
The control of each currency works through a database through a structured network of agents that is verified by a set of blocks that are linked and encrypted to protect the security and privacy of transactions.
How can blockchains be classified?
- Public blockchain: They are ideal for Internet use since there are no restrictions.
- Private blockchain: is one in which they are limited to a predefined list of entities.
At our EIP International Business School we are specialists in training personnel for companies in our master in Financial Management, in which it will train you to understand the market for new cryptocurrency technologies.
