Los Angeles, CA, Nov. 10, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Blockchain technology. You’ve probably heard about it, but what is it, exactly?
According to TechTerms.com, the description of “blockchain” technology is as follows:
“A blockchain is a digital record of transactions. The name comes from its structure, in which individual records, called blocks, are linked together in a single list, called a chain. Blockchains are used for recording transactions made with cryptocurrencies, such as Bitcoin, and have many other applications.
Multiple computers validate each transaction added to a blockchain on the Internet. These systems are configured to monitor specific types of blockchain transactions, form a peer-to-peer network. They work together to ensure each transaction is valid before it is added to the blockchain. This decentralized network of computers ensures a single system cannot add invalid blocks to the chain.” (https://techterms.com/definition/blockchain)
How does this apply to you? Traditional banking is increasingly moving toward digital wallets, which are precursors to blockchain technology. Very soon, payments will be processed almost universally through blockchain, which will ensure maximum security and instantaneous transactions for next to zero fees.
“But I don’t use a digital wallet. My online account works just fine.” You might say this, but in 2019, worldwide consumers interacted with a digital wallet over 2 billion times per day (Liftoff, App Annie, April 2020). Digital wallets, and thus blockchain technology, are the future of financial processing.
However, there are knowledge gaps for the average consumer that can create resistance and fear regarding blockchain usage. This places a roadblock in front of the immense benefits blockchain technology offers and how consumers interact with their digital wallets from a user experience standpoint.
Digital Names simplifies the process of these kinds of transactions by making digital wallet usage significantly more manageable. Digital Names assists with payments, receipts, data entry, and overall transactions utilizing one’s digital wallet. Digital Names is built on Total Network Service’s (TNS) global decentralized network (TNS Blockchain is an active W3C community project). As it’s increasing adoption, it’s helping to transform how financial transactions are currently working.
Frank Corsi, Founder of Total Network Services and the internet database network, with Thomas Carter, “The God Father of Fintech,” created Digital Names over the past several years.
Fast forward to now, and recently completing the Series A Raise, Frank, Thomas and their team at TNS – Digital Names have created the ultimate fire proof digital payment method. This technology now provides users the ability to create a “$DigitalName,” in much the same way one can create a personal website.
Unlike opening a bank account with private logins, users can quickly enact transactions across over 250 blockchains using a single ID (their $DigitalName), making for an efficient and smooth purchasing process. As with companies like PayPal, Venmo, Zelle, although specifically for digital AND fiat currencies, Digital Names provides a single ID to send and receive money for cryptocurrency, retail, and more.
Blockchain doesn’t sound too scary now, does it?
As Frank Corsi developed significant security networks and domain backing during his previous career, he’s built the Digital Names platform to offer world-class digital finance security and protection. Say “No more!” to petty hacks, slow and costly processes, as well as irritating unknown logins from the other side of the world.
Blockchain is the future of payments, and Digital Names is helping you ditch the plastic!
Remember the early days of the internet? Did you miss that special domain name? What do you want your Digital Name to be? $Kanye? $Trump? $Lakers $Dodgers $Travel $MyNameis $SlimShady. Don’t miss your chance to get yours
Are you interested in investing in the new “blockchain internet” Get the latest Financial Technology innovations of Total Network Services – Digital Names? Head to dlbx.io and submit your information to be contacted on the Series B opening on 11/11/20 @ 11:11 am EST
Read the original article here: https://finance.yahoo.com/news/why-everyone-ditch-plastic-credit-192300465.html