Blockchain financial technology

Blockchain financial technology to secure cryptocurrencies as bitcoin for online payments and money transaction.

Once touted as a utopian dream the emergence of cryptocurrency has caused an insurgence of attention in recent years, making it a topic of discussion at the latest PRCC Bizcom conference.

Genaro Mojica, CEO of Blockchain Trade Center, introduced the topic of blockchain to assistants by questioning its value. “What is the business value of blockchain? How is it affecting commerce? In a big way. Increased trust between business constituents. All information is secure, organized, and accessible in one place and provides a high level of data security.” Mojica argued. The explanation seemed to solidify the credibility the digital wallet concept had amassed. For Mojica, blockchain is the way forward.

Nevertheless, this technological advancement has perplexed many about how to best incorporate cryptocurrencies into modern life. Such is the case of traditional academic institutions, and the potential role cryptocurrencies will have in their curriculum.

“At the university, we have a lot of computer science and software engineering programs at all acasdemic levels – graduate, graduate certifications, etc. But currently, there is very little experience in the area of blockchain. Universities are still reacting and trying to integrate it,” said Ubaldo M. Cordova-Figueroa, University of Puerto Rico’s VP for Academic Affairs and Research.

As with many institutions, change happens slowly. However, at the accelerated rate that blockchain has allowed crypto currency to take off, Figueroa noted an interesting trend. “I have mentioned it before: there are students at the University of Puerto Rico creating blockchain, creating their own system, sometimes on topics that even the professor has not yet mastered.”

For Figueroa, it would seem the excitement blockchain has created with crypto currencies has motivated students to seek information on their own.

“Unfortunately, blockchain technology is still in a stage of evolution and development. So, according to world technology standards, implementing it requires a transition,” former Puerto Rico Innovation and Technology Service (PRITS) executive director Enrique A. Völckers said earlier this year.

The academic sectors are not the only ones frustrated over the changing landscape. Financial institutions are also seeking to come to an understanding on how to properly react to the changes. When questioned about, how long will it be until banks accept cryptocurrencies, answers are still vague and not unanimous.

Only Fernando Velázquez, Finance Director at Blockchain Trade Center, and a certified public accountant (CPA), ventured a more or less: “Five to 10 years.”

Regardless of the speed the modern world reacts to the rapid growth of digital currencies today’s entrepreneurs are convinced they have the ability to innovate a new path to their economic independence. It would seem that, through ingenuity and a profound desire to succeed, a new paradigm for monetary freedom is in the process of being created.

The technological advancement has many wondering about how incorporate cryptocurrencies

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