BBVA API Market
The appeal of bitcoin as a digital currency is unquestionable, but becoming a rising trend in the developed world goes far beyond, we have to examine the blockchain technology behind bitcoin.
It is based on providing a computer code as a currency, albeit with limited issue, that users can save and register, but it also enables them to locate other users in real time. In other words, to highlight the fact that it is a user community that guarantees the currency's existence and transfer among users.
In short, it involves boosting the peer-to-peer model (P2P) with the support of a technological development that enables disintermediation, point-to-point transmission, data encryption and digital signature.
In this way, blockchain technology has become a new source of business by triggering the transformation of the value chain. In the financial sector it has given rise to a new way of understanding finance through the collaborative, participative and peer-to-peer economy.
And this is one of the key aspects: what can the development of this technology contribute to improve the customer experience and enhance the services and products used.
For further information on this technology and digital currencies, you can now download the latest issue of Innovation Edge on cryptocurrencies.
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