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The Role of Blockchain and Decentralisation in the Digital Economy

The world keeps on changing and advancing because of technology. It has become quite convenient to communicate, travel, build, among many other things. If we look back over 21 years, technology has changed major sectors and created new businesses. To supply infinite consumption to humankind, the world economy is ever inflated and must continue to do so for the next 100 years or more. There is a need to revolutionize the world economy, which is possible through Blockchain Technology. According to an analysis conducted by PwC, it can boost global gross domestic product by $1.76 trillion by the next decade.

Blockchain Technology was first described as an idea in 1991. Research scientists Stuart Haber and W Scott. Stornetta introduced time-stamping digital documents computationally so that they couldn’t be tampered with or backdated.

In the following years, many prototypes were seen. However, in 2008, Bitcoin emerged. Satoshi Nakamoto (Anonymous) is credited for the creation of Bitcoin…

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