The Proof of Concept developed by Jurre Machielsen provides for a decentralized mechanism which makes creation of deterministic contracts between parties to provide for automatic payments. The Lisk Builders Program provides the required assistance for enterprises and developers when it comes to developing blockchain apps for financial service.
Lisk (LSK) introduced some changes very recently. They have a new address system for the Lisk Ecosystem.
There are also new ID formats for transactions along with new ID system for blocks in Lisk. Lisk recently encouraged their users to perform at least one outgoing transaction to format their accounts.
Lisk in their blog contemplated on how financial services per the International Monetary Fund (IMF) are defined as the processes by which consumers or businesses acquire financial goods.
Financial services consists of a wide range of economic activities facilitated by the finance industry like in banking, investing, and insurance. These services are considered to be the most important in the global economy and it is considered to be a major driver of national economies. These services have a direct impact in the prosperity of the country’s population.
When not managed well it can lead to global recession and poverty. Further published that Blockchain technology will be able to have a very significant impact on the financial services sector in several ways. Thus, providing for the overall benefits for governments, companies, and individuals alike.
According to Lisk, blockchain technology will be able to solve the many challenges in financial services. Thus, benefiting regulators, financial institutions and individuals in many ways. This they say is possible by virtue of the decentralization, immutability, efficiency, transparency, and security in ways that have never before been attainable in the financial service sector.
Lisk have explored the benefits of blockchain technology and on how it can contribute to the financial services sector from both a company and a regulatory perspective. Blockchain technology facilitates better compliance, faster and less expensive payments, smoother client onboarding, issuance of trade and financial securities in a cheaper and faster manner, and ultimately providing for improved transparency and efficiency.
Sydney Ifergan, the crypto expert opined: “Waiting to see exciting developments show up soon on Lisk (LSK).”
Lisk recently tweeted: “We would like to announce the Lisk Community Hero of the month. Our gratitude goes to @liskjapan for their contributions to the Lisk ecosystem by supporting the Japanese community. Want to find out more about them? Check out their profile.”
Lisk know how important it is to recognize and acknowledge the contributions of developers and so they keep encouraging and acknowledging them.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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