Today I will be discussing about an important project in the crypto-currency world known as BANKNET. As the name implies you must have known its more of FINANCIAL project but surprisingly BANKNET has not just come to revolutionize the financial industries alone but with the aim of revolutionizing both the INSURANCE and the REALS ESTATE industries altogether, through the adoption of blockchain technology in its new BANKNET platform.
The banking, insurance and real estate industry has subsequently succumbed to the blockchain revolution, creating a wealth of possibilities for the modern blockchain developer in which traditional financial, insurance, and real estate transactions are facilitated by means of centralized economic institutions. A blockchain is a decentralized system wherein encrypted transactions are entered into a ledger which is shared via a couple of parties.
The transaction on blockchain technology is encrypted and delivered to a dispensed ledger in which more than one parties with entry to the shared ledger verify the info of the transaction, without compromising the identity of those involved which is the main reason why BANKNET has adopted this technology. Due to the fact that only confirmed blocks of transactions can be brought to the ledger, there's no need to re-observe the authenticity of any transaction once it has been validated and entered into the ledger.
Considering the fact that blockchain can easily be used to transfer assets, which include money, through mere ledger entries, banks, insurance and real estate industries can use blockchain innovation to reduce the time required to settle transactions which all can easily be done in BANKNET platform. As opposed to taking the conventional 1-3 days to verify fund transfers, customers and all parties involved can receive verification in hours or minutes and as the blockchain technology for banking and insurance applications matures, transactions will arise in real time.
Shared ledgers can assist banks, insurance and real estate secure transaction information in some ways. First, on account that blockchain enables transactions to be completed faster than is possible with centralized systems, there is much less time for someone to intervene and divert bills, or to seize transaction statistics.
Second, in some fashions, safety keys exist for each transaction: a public key that is available to each person, and a personal key that is shared simplest via the parties to the transaction, the general public key can be used to view a consumers account balance and transaction records, however it cannot be used to identify the account owners identity or to make adjustments to their document. The personal key's connected to the consumers account number, and may best be used once. Despite the fact that a hacker may want to steal the personal key and decrypt it, it'd no longer permit them to make similarly transactions.
As banks, insurance and real estate are learning, blockchain technology gives them a long way more than survival it is able to pave the way to more performance, security, and advanced consumer pleasure which is why BANKNET has launched its new blockchain project to solve all the issue facing the banking, insurance and real estate industries. Through the use of smart contracts in BANKNET platform, there will be lesser interactions with counterparties and intermediaries, which can reduce charges for keeping and executing contracts in the platform
Some other way BANKNET platform is saving on transaction costs is in bank-to-bank transactions. Many such transactions require a middleman for processing and administration.
BANKNET removed the need for the intermediary and facilitates speedy, secure transactions among institutions.
For insurance, as with maximum industries, the strength of blockchain lies in reducing out the intermediary. With so much private statistics at stake, the insurance enterprise is presently bogged down by way of limitless assessments and rechecks. BANKNET platform will ensure all things are put in place to bring comfort to real estate merchants. While all that records is on a blockchain, without a doubt all those checks can be dispensed with. Data is trusted and can flow at once from one party to the other.
BANKNET platform will have a real impact on the real property industry, from belongings purchasing to due diligence to title control. Assets management is particularly complex, with many stakeholders involved which includes landlords, belongings managers, tenants, and providers. Most properties are currently managed either offline via guide paperwork, or thru more than one software programs that commonly dont integrate nicely with one another. With BANKNET platform, there will be simplicity in the real asset management because it has adopted the use of blockchain technology which is the best technology to solve all problems encountered in real estate
Through the use of a single decentralized software that makes use of blockchain smart contracts in BANKNET, the complete belongings management system, from signing hire agreements to managing cash flow to filing maintenance requests, can be performed in a relaxed and transparent way.
Token Name => Banknet
Token Symbol => BKU
Token Type => ERC20
Accepted Payment Method => BTC, ETH, XRP, DASH, LTC, EOS, USD, EUR
Token Price => $0.004 $0.014
To know more about BANKNET check the links below
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2550421
Bitcointalk Username: Samunto