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Blockchain is a decentralized ledger based on peer-to-peer networking. It is a way to move money back and forth, without a middleman like a bank. It has several advantages, including transparency, it is decentralized, there is better security, and it is less expensive, because there are no intermediaries and no paperwork. … “Blockchain” and “cryptocurrency” are everywhere in present-day business. This book will help the reader to understand it, ahead of most people. This book is pretty technical, but it is worth checking out. -Amazon Review
Blockchain and Cryptocurrency
1. If you are a student of management or business management, you must have come across the term ‘blockchain’ and ‘cryptography’. Have you ever thought about why businesses all over the world are going crazy about this technology?
No one wants to miss the bus, and every business is looking forward to gaining a lot from this. Why is it becoming so important for everyone all of a sudden? How it is going to affect our daily lives or the lives of business professionals in different sectors like banking? How does it bring immense opportunities for future business leaders and aspiring students?
All these questions are countered effectively in this book.
2. As we know that blockchain is a decentralized ledger-based on peer to peer networking, each peer has a copy of the ledger and transaction, making blockchain technology a decentralized system.
This decentralized nature of blockchain derives us to lots of advantages in the business like:
- Immutability: ensures that a system is unaltered. Like, immutability helps companies to ensure that there is no alteration done to the packages in transit.
- Transparency: an essential feature for companies who are looking forward to gaining the trust of their customers.
- Decentralized services: the future of digital society, which will soon become a reality. It will give the customers immense power and freedom.
- Better security: the decentralized feature added with the cryptographic layer makes it fit for providing better security. It is far better for securing systems from being hacked. As it is based on complex algorithms and decentralized features, so no risk of single-point failure.
- Less expensive: due to no management of intermediaries and staff. No paperwork.
3. The global blockchain market is escalating and expected to reach $ 20+ billion in 2023. This shows how rapidly businesses are adopting it. And the reasons for its crazy adoption are
- Reduced operational cost
- Increased efficiency
- Removal of intermediaries
- Streamlined processes
- Traceability and transparency, especially in the supply chain.
4. Also because of the coming of popular blockchain-as-a-service (BaaS) services, like Azure Blockchain Workbench, Amazon Managed Blockchain, there is no need to arrange expensive blockchain infrastructure. So businesses with low budgets can also aspire for blockchain.
5. Blockchain is going to be the future of all businesses around the world. As a business student, one should equip himself/herself best with all the fundamentals of blockchain technology.
Keeping in mind the future growth of blockchain, this book has been written in a very detailed and comprehensive way. It thoroughly explains the basic terminologies and techniques. All the chapters are arranged in chronological order.
6. This book is a part of ‘The Complete MBA Coursework Series’.It follows the Core as well as Elective Courses of prestigious institutions like Wharton and Harvard Business Schools.
It will provide you with a self-motivated way of studying the MBA course, unescorted by lengthy cum costly traditional Courses, thus equipping you with the freedom of space and time.
7. You can acquaint yourself with blockchain technology at your place and time. For students, it is inevitable to avoid blockchain. Without delving into its basic aspects, one cannot expect to imagine the future business and market landscape. To be a great business leader in the coming years, blockchain should be comprehended in great detail.