Infinity Blockchain Labs is an R&D Company and is the biggest company in Viet Nam. Perhaps you may hear that blockchain technology can be considered by Bill Gates, Richard Branson and the big banks who are racing to become pioneers with this technology. But you are still wondering what exactly blockchain is and why Wall Street and Silicon Valley are so concerned about. Let follow us to break it down into what it is and what you need to know.
What is Infinity Blockchain Labs?
To be Asia’s leading R&D company focusing on the forefront blockchain technology, Infinity Blockchain Labs gathers more than 40 blockchain developers and experts of business, technology, marketing & creative from 10 various countries in the world. Infinity Blockchain Labs from now on is gaining a footstep on the market as the minority companies that can make blockchain technology a real product.
With the aim of “ To stand on the frontier of the largest innovation in human history and contribute to the literal evolution of the world “, we are dedicating to fostering educated and inspired student and citizen communities. Infinity Blockchain Labs passionate about providing products and services that are easy to adopt and suited for everyday life.
What is Blockchain?
In the current time, everyone has trusted an intermediary service (eg bank) to make a transaction. But with blockchain, it allows consumers and suppliers to liquidate directly with each other without third parties interfering.
“What the internet did for communications, blockchain will do for trusted transactions.”
– Ginni Rometty, CEO of IBM
By using a secure transaction code, the blockchain provides a hierarchical data, or “digital ledger”. everyone can see their transactions. This network is basically a series of computers that all have to approve a transaction before it can be validated and recorded. It is like sending a box that everyone confirms the box is yours. Sending the box will go to many different computers and be confirmed, the data in the box will be scattered and re-entered into a final string.
Why is blockchain technology revolutionary?
As mentioned above, Blockchain helps solve many problems of e-commerce transactions as well as online payment. You can transfer money to friends and relatives anywhere in the world without any intermediaries, no limits on quantity, time is extremely convenient and one of the most significant things is no fee payment.
Many experts predict that blockchain futures can provide smart contracts, transactions, and confirmed deals without displaying any private information. Not only is blockchain the core of the internet, most electronic devices can communicate in a transparent way. Moreover, any fraudulent acts will be excluded progressively.
At present, many large companies around the world have started to build a blockchain system for their company. To capture this potential development, Infinity Blockchain Labs (IBL) was built with a vision to engage in intermediary and RegTech services employing blockchain technology.