If you are planning to go for various financial endeavors using cryptocurrencies, you should definitely know about ClearCoin and the Blockchain Technology for your benefits and advantages. With this efficient cryptocurrency and secured database respectively, you can surely have reliable transactions with ease.
What is ClearCoin?
The Clear Coin is a new cryptocurrency that has great features that you cannot find in its predecessors. Although it has the typical cryptocurrency properties like acting as cash on the virtual realm, it also has reversibility features that makes it more advantageous in many financial transactions.
You can set ClearCoin for escrow transactions without the need for an intermediary. For instance, you can set a Clear Coin upon receiving a product, and send it to the seller. However, the seller will not receive the amount without your permission. You will receive a notification on the set date, and you can let the seller receive it or abort the process as you return the product to the seller.
What is Blockchain Technology?
The Blockchain is an online database that started as the official Bitcoin wallet. After expanding to some other industries, you can now use it for other purposes. However, most use it for financial transactions, especially in keeping track records of the process. This can let all parties involved in a transaction to view its contents, but no one can easily edit it because it is protected by cryptographic codes for security purposes. This makes blockchain perfect for Clear Coin transactions, since you can easily see the records of your cash without hassles. Moreover, you can have an assurance of its safety as well.
You just have to know more about ClearCoin and the Blockchain Technology for you to start using it in financial transactions. This can help in providing efficiency to your processes, while keeping it reliable for all parties.