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To what was considered as the “dot-com bubble” in the year 2000, Blockchain technology has become as sensationalised and disruptive as the internet was in the late 1990s. Even though the technology is still in its infancy stage, individuals and corporate bodies are already leveraging on it to expand their business and shift their paradigm.
People are more eager to embrace the changes that the future holds, which has given birth to many groundbreaking innovations. While many industry giants were at first skeptical and others were indifferent about the disruptive power of Blockchain, the fear of being left behind seems to be a compelling force to join the Blockchain wave at the moment.
This has seen the likes of JP Morgan, Facebook and Twitter looking in this direction. Needless to say, many countries are already exploring possible ways that Blockchain can aid healthcare, education and finance, whilst also improving the supply chain across various other industries.
As these sectors gain further recognition and with the elimination of other 3rd parties involved in this process, P2P networks have grown stronger than before. For efficiency, decentralisation and reduced risks, many Blockchain financial corporations have already utilised the P2P distribution networks due to its numerous benefits.
Peer-to-Peer (P2P) networks became known during the 1990s. Adopted by sites such as Napster, Gnutella, Limewire and Kazaa, P2P made many music-loving teens happy because they could share and download their digitised music files.
Today, the same concept has been replicated on Blockchain,