But what if the till had access to a record or ledger, of the balance on your credit and debit cards that was updated anytime you bought stuff? Even with the bank’s systems down your card would still work well in anytime and anywhere, because the till itself would know your balance.
That is just one possibility can be provided by a distributed ledger technology, also called as a blockchain. The technology has been around for more than a decade. The blockchain industry started by bitcoin and it has been growing from 2009 to the present.
For the advantages of blockchain which is that it leads to new opportunities and benefits businesses through greater transparency, upgraded security and easier traceability, 85% of Italy-based banks are using blockchain system to speed the process of double-checking transaction logs.
Between banks, as we all know, they do reconciliation. in the old system, it takes a long time and was never predictable and the average time for reconciliation was between 30 and 50 days. But in new blockchain based system, reconciliation is completed within a day. Obviously, this system has high efficiency and fewer risks than old system.
But as you might know, blockchain technology is not well known to the public enough for them to learn and get to use it easily due to it is not easy to find a blockchain network that a lot of people, including programming experts, share information and system knowledges. Therefore we are in need of a network, actively providing specialized materials about blockchain so that anyone who is interested in learning and developing blockchain can actually develop and use blockchain.
To make this thing happen, BINT Protocol, Blockchain Internet Network Terminal protocol, was established. It aims to create enhanced environment for blockchain system development and build up a community for all the participants to make them be able to freely share each other’s information and do the winning game.
More specifically, BINT Protocol can offer the fully decentralized and secure environment and a platform in order to build APIs which is it can transfer and receive data with the blockchain network built by the users. And it also can provide an environment that the users can develop by themselves and can manage and operate system by themselves no matter what operating system they have such as Linux, Windows, Mac OS etc. and most importantly it provides to the users with a distributed server computing environment and web-based development environment so the users can develop their own network or any operating system within an hour through BINT Protocol development platform.
