At Metal, we believe the future of payments involves blockchain technology. But what does that mean? Here's a primer.
Blockchain technology is a key component of the digital currency bitcoin. For a digital currency to work without a centralized resource, a mechanism must exist for ensuring trust. This trust is needed to make sure a digital currency cannot be counterfeited and spent multiple times. This type of fraudulent activity would destroy a digital currency.
This is Why Bitcoin Has a Blockchain
By using a blockchain, bitcoin has a chain of ownership. Digital currencies without a blockchain make those systems centralized, harder to figure out who owns what.
Today, there are literally hundreds of digital currencies out there. Metal believes in a world where there will be many digital currencies. This will ultimately help the payments experience.
Blockchain can offer a compelling alternative to cash or credit cards. By bringing a similar experience to the internet by using blockchain transparency and fraud protection, Metal is bringing payments into the 21st century.