BLOCKCHAIN : BITCOIN

[Audio] Good morning everyone. Today, I will be talking about the revolutionary technology, Blockchain and its application in Bitcoin, a decentralized digital currency. I will be discussing the current usage of Bitcoin and its future prospects along with its advantages and disadvantages. I hope my presentation helps you understand the subject better..

[Audio] We would like to discuss the impact of blockchain and Bitcoin. Blockchain is a distributed ledger technology that allows secure, transparent and tamper-proof transactions. Bitcoin is a cryptocurrency that uses blockchain technology. We will be delving into the current usage of Bitcoin and exploring its potential applications and future prospects. We will also be providing an analysis of the risks and advantages associated with the use of Bitcoin. We hope this presentation will leave you with a better understanding of the blockchain and Bitcoin technology..

[Audio] Bitcoin is a form of digital currency that provides users with the ability to send and receive money without the aid of any third-party intermediaries. Transactions are verified and protected by a network of computers that are connected through the use of cryptography and the public ledger referred to as a blockchain. As a result of its decentralized nature, Bitcoin presents many potential opportunities such as secure online banking and enhanced privacy. It is seen by many as a modern form of money and has gained widespread acceptance across the globe..

[Audio] Bitcoin is increasingly being seen as a store of value and investment asset. Although there are some that use it as a payment method, its volatile nature and drawn out transaction times reduce its effectiveness as a widespread payment solution. The following slide will provide an in-depth look at the pros and cons of Bitcoin..

[Audio] Bitcoin offers cost effectiveness, speed in transacting across borders, and increased privacy compared to other payment methods. It has also allowed the unbanked population to participate in financial activities, and has decreased the risk of fraud and chargebacks. Despite these advantages, its status as an unregulated currency can lead to potential scams and fraudulent activities. Although Bitcoin is becoming more widely accepted, it has not yet achieved universal acceptance, and the nature of a Bitcoin transaction is irreversible..

[Audio] COVID-19 pandemic has undeniably had a significant effect on mental health across the globe. With this, there has been an increased urgency for psychological aid to support individuals with mental health issues. Let us now analyze how this crisis has induced such a predicament..

[Audio] Blockchain technology is constantly evolving, and so is Bitcoin. It has the potential to drastically alter the way digital payments are made, and it has the possibility of revolutionizing the entire financial sector. However, its success relies on its ability to address its weaknesses and make it easier to use and adopt. To further this effort, development of layer-2 solutions like the Lightning Network, and integration of technologies like smart contracts and decentralized finance, could help improve its features and make it attractive. If Bitcoin is fostered and given further growth and development, it may become an innovative financial technology that gives power to both enterprises and individuals..

[Audio] Bitcoin boasts a revolutionary technology that has the potential to revolutionize the financial industry, providing improvements in terms of efficiency, security and cost reduction. While it is currently limited in its abilities, its advantages and prospects are encouraging. To ensure Bitcoin is accepted and realizes its true potential, all related stakeholders must come together, building the necessary infrastructure and spreading awareness..