February 8, 2019, | AtoZ Markets - The blockchain is called confusing technology, but it is also talked about as an innovation that can change our way of life and business. Some already call it the 21st-century breakthrough, the greatest invention comparable to the discovery of the Internet, others are still looking at the technology with caution.
Blockchains, LLC Acquires Over 67,000 acres to build new project
In its simplest form, the blockchain is a digital transaction register that tracks the exchange of the values. The blockchain technology helps to take a fresh look at the exchange of the values, documents, and money. It removes the participation of the third parties and allows users to send each other important data directly.
By removing intermediaries, the blockchain removes unnecessarily charges for the transaction. Justin Berg, Blockchains LLC program manager, in one of his interviews, said: "That could mean a cryptocurrency, that could mean a deed to your house or a title to your automobile."
Recently the local media announced that Blockchains LLC plans to demonstrate the power of the blockchain to the general public, by creating the new technology community.
The company recently acquired 67,000 acres of land in Story County, Nevada, some of which will be transferred to the Blockchain Community, which can be built for 15 years. As the Blockchain LLC officials state the new community will include the blockchain where it’s useful and give more control to the people and change the way people live.
The new technology makes transactions transparent
Matthew Digesti, director of the department of the joint relations with Blockchains LLC explained the benefits of the blockchain in the following way:
“For example, you have Bank of America. If I wanted to send you money, I don’t know you, I don’t necessarily trust you - Bank of America has the role of ensuring that I have the money I want to send and that I really send them to you. The power of blockchain technology is that you completely exclude people like Bank of America and simply trust the software code to do what he says it is going to do.”
Transactions in the blockchain “are visible to every user associated with the chain,” Digesti added that "all transactions must be approved by each user, which ensures security and transparency."
When asked about upcoming Blockchain LLC project of creating the Blockchain community, director of the department for joint relations expressed his hope in the new Blockchain LLC will grow and “there will appear services such as schools and medical services, as well as support for retailers with residential area and high-tech business park.”
“The consumer is actually at the center of his daily life,” says Digesti. “Whether it comes to power, to water, to your medical record, to education, to operations directly with your neighbor. It's a different way of life when we better control not only how we behave day after day, but also our digital identity. ” over the data we create. "
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