Hi, Lions!

Blockchain technology has a profound influence on financial services, lifting people's burden of financial aspects, creating new opportunities, and mobilizing changes in the way financial transactions are conducted and recorded on the platform. The impact has been felt in this ecosystem and the majority of people are excited they are here. And the majority may think, that this blockchain technology is complex and complicated to manage. Yes, it is, it takes time before money is being pulled out. Patience and sacrifice are applied before the money is pulled out.

 https://img.inleo.io/DQmPho2ii8VV2CA2vwZeLTnu8imYXrovgv6pJudpjjjwBfT/image.png
Source

Two weeks ago, I did transactions over and over, especially when I had accumulated and I decided to take some and sort out my bills.

Furthermore, the world of Blockchain technology is magnificent and beyond my understanding. No wonder, the bible says; wisdom is a principal thing. It amazes me sometimes how this platform was formed and built to the extent of conducting transparent transactions.

Blockchain technology will continue to create an impact on financial services because of its system which has been lucrative and intensely utilized for purposes.

The benefits of Blockchain technology on financial services

Security

 https://img.inleo.io/DQmRByfjBobWVjnMVbhVV3eCDGoyLtSuFYyQhoigZCBcDKU/image.png
Source
The first thing in Blockchain technology is the provision of security. Without implementing security in this platform, it would be a great loss to the owners and the community. For things to get well in this Blockchain and for the users to be more involved in getting the platform going security, especially on the financial services against fraud and malicious third parties, making it virtually impossible to hack and manipulate. Since I came to Hive Blockchain, I have never been a victim of my account being hacked or others, unless the keys are kept exposed for this art to occur.

Transparency

This employs transactions that are recorded on a public ledger, allowing for greater transparency and public auditing as a source of truth for network participants.

Cost reduction

Blockchain technology has always reduced the need for intermediaries for financial transactions. Immediate and easy transaction in the Blockchain technology. Blockchain is not the same as a bank which you would be moving from one place begging for transactions or withdrawals. Here, withdrawals and transactions are sone free.

Faster transactions

Blockchain technology allows for easy transactions. Unlike, banks which are allowed to operate in the daytime. Blockchain technology operates 24 hours, allowing transactions at any time. This is done in the comfort of your home with the use of your smartphone, computer, or laptop. The world changes every day and everything follows. Before, we were not here but now we are here, having the simplest and best technology. Can you, there is no queue in the bank for transactions. Mini banks are everywhere for easy transactions and withdrawals.

Fraud reduction

The immutability of the Blockchain makes it difficult for fraudsters to access people's wallets. Transparency is what keeps e-wallet accounts recorded and stipulated for future purposes. I liked the way, Hive Blockchain technology is been built. The foundation is strong and no man can intrude into people's space.

Incentivization

Hive Blockchain technology is one of the most beautiful platforms that has allowed for incentivization, encouraging users to step up their engagement as content creators. Incentivization comes as a result of financial services for the beautiful work done for personal benefits and solving people's problems.

 https://img.inleo.io/DQmQcNWWUYBSbV9AnamzXPPftxwb4ke1bg9MHqxhoAQnEs5/image.png
Source

Overall, the benefits of Blockchain technology are creating more efficient financial system to grow and bring more people to the system.

This post is in response to the impact I have had on the Hive Blockchain technology.

Thank you for reading through.

I love, I care, and I forgive

I ramain @peckypeace..
 

Posted Using InLeo Alpha