What problems does blockchain solve?

31 Oct 2022

Different versions of blockchain solves other problems. The application of blockchain is diversity in many segmentation such as:

Blockchain 1.0 is a cryptocurrency and blockchain-based payment gateway that uses an exchange or payment processor to convert and transmit cryptocurrency. This is the most well-known aspect of the blockchain, and many people confuse Bitcoin and blockchain. Cryptocurrency is permitted.

Financial processors and digital banking contracts are built using Blockchain 2.0. Shares, checks, debts, and anything else related to an agreement or contract are examples of Blockchain 2.0 assets. This version is used to develop blockchain-based digital payment platforms like PayCEC.

PayCEC, in particular, is a blockchain-based payment gateway that enables international bitcoin transactions. To validate each transaction utilizing the 3-D security function, consumers must enter an OTD code. The design of the digital gateway interface is entirely up to the merchant. This blockchain payment gateway has acquired PCI DSS financial services certification, confirming that the system is stable and up to date.

Blockchain 3.0 is being used in a variety of areas, including education, healthcare, and government organizations, to establish monitoring and monitoring programs.