Both bitcoin and its underlying technology, the blockchain, have been hailed as a technological solution for a broad range of societal issues. Bitcoin can be used to make cheap remittances, pay for goods and services globally and mobile bitcoin wallets can effectively be used as digital bank accounts.
The blockchain’s possible applications are much broader. From transparently recording financial transaction to increase good governance and creating ‘smart contracts’ to legally bind bi-lateral agreements to validating ownership and conducting voter registration, the Blockchain technology will undoubtedly play a major role in society and industry in the future...
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