Hello Everyone! "Assalamualaikum".

Hopefully everybody is well. At the same time, everyone is having a good time with their families. I am also well with your prayers. Since blockchain is a very important topic at present. So today I will discuss with you the reasons why blockchain is more beneficial than banking. I hope you enjoy my writings.

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In the banking system we have to spend a lot of time to make transactions. Another major problem is the need for third parties to transact in the banking system. The third party in the banking sector is the one who verifies the information to complete our transaction. As a result, many of our precious time is wasted. We also spend five days a week in the banking sector doing most of our transactions. Because in the banking sector there are five working days in a week. So we have to do it in the last two days to deposit the check and that is why we have to wait.

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Besides, we have to wait for some time even if we submit the check on the working day. Here too there is a long wait for transactions. Moreover, although money can be transacted through ATM booths, there are limitations. Especially in the case of transaction amount. Moreover, many times various errors can occur.

Blockchain technology gives us that opportunity if we want to transact directly without third party verification. The biggest advantage of this technology is the removal of people from the transaction process. In other words, there is no third party or human hand in the activities of blockchain. As a result, transactions can be completed in less time than banking. Also every data here can be stored securely and encrypted. Even when a transaction is completed, no one can change its information. As a result, there is no hacking problem. We often hear of hacking attacks on the banking sector. But with the addition of blockchain technology, hacking is never possible.

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The biggest advantage of blockchain technology is that it is distributed and decentralized. As a result, it can be used from all corners of the world. So that even if many computers are damaged in one's computer or any system, there is no problem in the transaction of this technology. That is the problem we face most of the time in the banking sector. Another advantage of blockchain technology is that when a transaction is completed, everyone can see it, but they cannot see who had the transaction. Here everyone can see the maximum transaction amount. So it has many benefits. So at present everyone is moving towards blockchain technology. Even now many countries have added blockchain technology in the banking sector and many countries are thinking of adding.

Much Love And Best Wishes To All

I am Md. Kawsar Hasan. I am a Bangladeshi. I feel very comfortable to introduce myself as a Bangladeshi. An assistant teacher by profession. A writer intoxicated. So I feel very comfortable writing content on different topics. It’s great to know the unknown and learn something new. Love to travel.
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