Centralized systems are not transparent, whereas Blockchain (a decentralized system) offers complete transparency. By utilizing blockchain technology, organizations and enterprises can go for a complete decentralized network where there is no need for any centralized authority, thus improving the transparency of the entire system.
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Understanding the basics of blockchain technology
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Today, any kind of financial service, like an insurance claim, loan, asset management, or even stock trading requires the go-ahead from banking institutions and other middlemen who can seize your assets if you default even slightly.
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