From multinationals to individuals, everyone is betting on blockchain technology and related projects. Blockchain is one of the latest technologies that are defining every industry, from supply chain to finance. In this article, you will discover the main reasons to use Blockchain and Crypto Coins.
All transactions are confidential
When you send money to a friend via bank transfer , your personal data is accessible to a long list of people. The teller who served you, bank managers and the highest political administration in the country can extract the details in minutes. If this information is disclosed to malicious people, you can be the target of lawsuits to extract the funds in legal fees. By going to https://www.dataprotectioneu.eu you will discover more accurate information.
The beautiful thing about crypto-currencies and blockchain is that all transactions are 100% anonymous. When you send or receive funds, only a string of codes and numbers are available to validators. So there is no way for them to know your personal data. In fact, they only confirm that the account contains enough details to confirm the transactions, and all other details remain anonymous.
Get all financial services at a lower cost compared to banks
The main reason why it is difficult to send money, take loans and manage assets through banks is that they have a lot of overhead costs. They have downtown bank branches, long employee lists and other obligations that require them to aim for high profit margins . However, you can now benefit from lower transaction costs by working with blockchains and crypto-currencies
No verification when taking a crypto loan
Unlike banks that collect so much information from customers applying for loans, you'll be surprised to find that no additional details are required. If you have coins to put up as collateral, nothing else is required to get a loan from a platform. The money is also released quickly so you can use it immediately for your needs.