Why You Should Use Blockchain When Crowdfunding

The technology of Blockchain has subtly begun to displace numerous industries. This technology has gained momentum and is becoming popular across the world today. Fundraising for new businesses is one of the critical areas in which blockchain helps create new and exciting opportunities. To fully understand the technology of Bitcoin, we need to grasp the concept of blockchain adequately. Let’s take a quick look at the concept of blockchain and how it functions. Blockchain Technology The concept of blockchain is quite broad and complicated. However, we will endeavor to break it down into smaller chunks that you can easily understand, using a comparison between traditional spreadsheets and Google Sheets. Like ledgers used in a transaction, traditional spreadsheets can only be used at a specific time in a particular place. They may be kept in an application on the web like Google Drive or saved on the computer. However, they cannot be in multiple places at the same time. Every modification must be manually updated and distributed across all the parties involved.