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Tracing the roots of Blockchain 鈥?Shortcomings of the current system
The way we transact has evolved over a period of time, right from the barter system to cash. No matter the mode of transactions, there used to be many problems in the existing system such as security of data and payment transactions, the existence of middlemen for payment exchanges, the associated time of settlement for a transaction Wholesale NBA Jerseys Shop , high entry fees, and limited access to banks in rural areas.
In order to overcome the current shortcomings, there was a non-deniable need for a payment network which is faster, reliable and secure. There was a need for having a transaction system in place which eliminates the requirements of intermediaries and at the same time makes the entire process decentralized. Read s: More About the Author
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