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There are two technical words that make many heads turn. They are Blockchain and Bitcoin. Many find it hard to tell the difference between them, and even less to invest. Bitcoin is an anonymous currency. Think of it as a stock on the market.
Like stock, Bitcoin can be bought, sold and traded on stock exchanges online. The more people trust him, the higher the price – just like a popular stock.
A Blockchain is a mathematical technology on whose wings Bitcoin currency and other currencies fly. This is a public registry that is distributed to all Bitcoin owners around the world. Its use, however, goes beyond Bitcoin.
In fact, it is such an important arsenal to stem the terrible wave of corruption. Here's how. The shared registry contains a history of all outstanding property transactions, including owner information. All transactions are open for examination: there is nothing to hide.
Part of the reason that corruption thrives is because cunning people have mastered the art of beating the system by manipulating or altering records representing transactions. In other words, they know how to cover their tracks, which makes it difficult for law enforcement officials.
The strength of Blockchain technology is to help certify documents and transactions so that they can not be erased. , altered or altered. It ensures the security of files and counteracts fraudsters.
It offers an unprecedented level of integrity, security and reliability to the information that it manages. It eliminates the need for intermediaries, reduces bureaucracy and reduces the risk of arbitrary discretion. It makes the work of auditors easy and seals the flaws exploited by smart thieves.
The Kenyan government has set up a task force to advise the president on how to use technology in various sectors, particularly in the field of land and education. The land sector has been particularly tainted with corruption, so landlords are never sure that the title deed that they hold is either false or factual.
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