Blockchain and game bet88 future of game bet88 banking system
Blockchain technology will drastically change game bet88 future of game bet88 banking and finance industry by bringing a host of benefits in development.
At a seminar on “Opportunities and challenges to apply blockchain to operations in game bet88 banking and finance industry”, Mr. Phan Duc Trung, Standing Vice Chairman of game bet88 Vietnam Blockchain Association, noted seven relevant trends.
game bet88 first trend is Smart contracts. Smart contracts maintain accountability through automatic document monitoring, including if-then statements encoded on game bet88 blockchain ledger. When conditions in game bet88 contract are met, game bet88 algorithm will execute game bet88 specified result independently. game bet88 benefits of Smart contracts are transparency, high efficiency, and reduced costs and intermediaries.
game bet88 second trend is Initial Coin Offering (ICO). game bet88 ICO process is similar to game bet88 initial public offering (IPO) process but is not yet regulated by law. game bet88 third trend is Tokens collateralized by assets. game bet88 tokenization of financial instruments and physical assets is an emerging trend in game bet88 distributed ledger technology (DLT) world.
game bet88 fourth trend is NFT (non-fungible tokens). An NFT is a token that represents a unique, non-fungible entity, such as a work of art or a digital identity, etc., with game bet88 value of an NFT reflecting game bet88 value of game bet88 assets associated with it, but game bet88 asset does not necessarily include game bet88 artwork itself. Over game bet88 years, NFT has created opportunities for many artists and collectors, expanding its potential customer base globally.
game bet88 fifth trend is CBDC (Central bank digital currency). Currently, over 80 per cent of banks in game bet88 world are researching CBDC. game bet88 sixth trend is Defi (Decentralized finance). And game bet88 seventh is Robo-advisor (automated financial advice), in which automated apps use algorithms or AI to track crypto activity.
According to game bet88 Vietnam Blockchain Association, blockchain technology will change game bet88 future of game bet88 banking system, from having faster international money transfers, helping increase security and reducing fraud, significantly reducing banking service costs, and improving product quality, to reducing human error and accelerating peer-to-peer (P2P) lending.
