Post 5 - The role of computers today & the future

FINANCE AND COMPUTERS-

The computer plays a huge role in finance as all of our software holds the ledgers needed in order to properly maneuver through the great list of customers that have to do with one bank. Employees use the computer everyday to help calculate and weave through numbers and customers and work through payments for loans and percentages of interest being paid etc.. Without the computers it would be very hard to keep up and stay 100% accurate in this industry. As for the future the role of the computer is going to be bigger than ever as blockchain technology has been introduced into the finance sector along with digital coins like Bitcoin, Litecoin and Dogecoin. Blockchain technology paired with the security of a personal storage wallet will help secure the finance industry like never before, making it exceedingly harder to commit fraud or be a victim of it.. The implementation of Blockchain technology into the finance industry can help eliminate the double-spending problem which almost eliminates most fraud.

Read the Bitcoin Whitepaper for reference - BTC Whitepaper Blockchain technology secures transactions by prioritizing each transaction to each individual node one by one. As the first node validates the transaction then it passes the transaction to the second node and so on. AS LONG AS each node verifies the transactions the network will be secured by its users. The blockchain is self governed and can only be taken over by a bad actor if said bad actor compromises over 50% of the chain. Given that there may be various nodes in various random locations, the task would be extremely difficult.