Tag Archives: blockchain

Forget Bitcoin – Blockchain is the Real Value in Cryptocurrencies

Posted on February 7, 2018 in Money by

In the current system, if you wanted to wire money to a relative overseas, you go to the bank (during banking hours), and use the banks wire service to send the funds. It will cost you a nice little fee, and take a couple of days for the funds to be sent as the bank verifies the funds transfer. This current system, essentially, makes you pay for the use of a middle man to transfer your funds. Additionally, you are trusting a third party to act in your best interest rather than conducting business solely between you and your relative. And really, you are just paying (and waiting) for a bank employee to make an entry in a ledger.

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