Understanding Block Chain Asset Managers

Block chain technology is one of the most innovative products that have emerged of late.    The blockchain system involves transaction which uses  online currency.    The consequences are huge to the financial sector in the whole world.   It entails decentralizing public ledger at every level of transactions.   Every blockchain transaction is well noted in the system.   The blockchain Technology must note every detail of every process carried out in the system.   It varies from the normal banks as the record which contains all the transactions is not held by a particular manager but it is in the hands of several people within the network which eases operations and enhances transparency.   The blockchain technology system is not at the mercy of any party or even country, but it operates freely.

There are many hurdles that traditional banks have experienced that have made the digital currency much attractive.  

It is not possible for digital currency to result in insolvency as transfer of money is solely reliant on the many members who carry out transactions.   The the system cannot fail to work as there are thousands of system that operate in this digital currency.  

The blockchain technology is designed in a way that there are many users of the system that can boost it if it requires being done so.    The system of digital currency is designed in such a way that, it cannot experience a shortage of currency as it happens in banks.   This is because authorization of a transaction can only happen where the party paying has sufficient amount of money.   There is no third-party who can interrupt the transaction if it did in the right way. Read Twogap blog here!    

You will note that there are a few messages that you can get when you are transacting.   In a case where you have a message you ought to pass to the buyer you can include it and lock it with an online signature.   The message is locked under a private key, and only a public key of the purchaser can decrypt the information.   The process ensures that the payment is only made to only one person and you don't involve the currency to pay another person.  

The  information of any transaction is fed into the system digitally, and it can only be accessed by data miners in the digital currency system.    These verifiers check whether the information on the transaction is part of the block.   The exchange process is stopped in case the data verifiers note any foul play.   You shall have to wait for a few minutes for the verification process.   It does have to be supervised by a central team of managers as the verifiers are working round the clock.

There are people who are looking into how blockchain-based asset manager can be done using this platform.