{"id":4587,"date":"2019-12-10T09:00:52","date_gmt":"2019-12-10T09:00:52","guid":{"rendered":"https:\/\/evoipos.com\/?p=4587"},"modified":"2021-12-13T13:34:28","modified_gmt":"2021-12-13T18:34:28","slug":"breaking-through-with-blockchain-technology","status":"publish","type":"post","link":"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/","title":{"rendered":"Breaking Through with Blockchain Technology"},"content":{"rendered":"\n<p>In our last edition of the Reseller Edge newsletter, we discussed the <a rel=\"noreferrer noopener\" href=\"https:\/\/go.evopayments.us\/reseller\/september2019_3-1\" target=\"_blank\">basics of Cryptocurrency<\/a>  and how to understand this potential game changer. As our series  continues, we look at the breakthrough technology behind it, blockchain.  According to a <a rel=\"noreferrer noopener\" href=\"https:\/\/www.statista.com\/topics\/5122\/blockchain\/\" target=\"_blank\">Statista<\/a>  report, \u201cWorldwide spending on blockchain solutions is expected to grow  from $1.5 billion in 2018 to an estimated $11.7 billion in 2022.\u201d<\/p>\n\n\n\n<h3 id=\"the-history-behind-blockchain\">The History Behind Blockchain<\/h3>\n\n\n\n<p>The concept of blockchain dates back the early 1990s with W. Scott  Stornetta and Stuart Haber. TechBullion states, \u201cIn 1991, the pair  described the first work on a cryptographically secured chain of  blocks.\u201d Nearly three decades later, and shortly after the bank crisis  of 2008, a person or group of people that went by the name of Satoshi  Nakamoto, developed a decentralized currency based off of a technology  called blockchain. Nakamato wanted to create a form of payment  (cryptocurrency) which wasn\u2019t controlled by a government, institution,  or third party.<br><br>Blockchain is defined as a decentralized, distributed, and incorruptible  digital ledger that is used to record transactions across many  computers. According to Ginni Rometty, the CEO of IBM, \u201cWhat the  internet did for communications, blockchain will do for trusted  transactions.\u201d Below is a graphic that provides an example of how the  technology works.<\/p>\n\n\n\n<h3 id=\"benefits-and-practical-uses\">Benefits and Practical Uses<\/h3>\n\n\n\n<p>Blockchain isn\u2019t just a trend or a fad, and companies in all sectors are  taking notice. According to a report published by PwC, \u201c84% of  executives surveyed said their companies are actively involved with the  technology.\u201d These industries range from the medical\/healthcare field to  cyber security, and most importantly, the financial services industry.  The reasons why companies are getting involved with blockchain:<\/p>\n\n\n\n<ul><li>Improves security by recording and validating each transaction<\/li><li>Reduces the risk of counterfeit currency and fraud<\/li><li>Not as likely to be hacked due to decentralization<\/li><li>Faster transactions that cut out the middle man<\/li><li>Very effective, streamlined payment processing<\/li><li>Buy or sell items or make purchases with no commission to third parties<\/li><\/ul>\n\n\n\n<p>Blockchain technology may not be the  easiest concept to grasp initially, but don\u2019t let that that scare you.  It\u2019s been around for over 30 years, and as of the last decade, has  become more and more popular in a variety of industries, including  financial services. Not only can it be used with popular cryptocurrency  like bitcoin, it can also provide numerous benefits such as improved  security, faster transactions, and very effective processing.<\/p>\n\n\n\n<div style=\"height:27px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator is-style-dots\"\/>\n\n\n\n<div style=\"height:22px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n    <div class=\"cta cta-full\">\n        <img src=\"https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/11\/cta_full-width_3.jpg\" alt=\"\" \/>\n        <div class=\"content-holder\"> <!--this extra div is needed to make line behind content and above image-->\n          <div class=\"content\">\n            <h3>Connect with Us<\/h3>\n            <p>With business activities in 50 markets and 150+ currencies around the world, EVO is among the largest fully integrated merchant acquirers and payment processors in the world.<\/p>\n            <div class=\"button-container\"><a href=\"\/about\/contact-us\/\" class=\"btn border\">Contact Us<\/a><\/div>\n          <\/div> <!-- \/.content -->\n        <\/div> <!-- \/.content-holder -->\n    <\/div><!-- \/.cta -->\n\n        ","protected":false},"excerpt":{"rendered":"<p>Blockchain isn\u2019t just a trend or a fad, and companies in all sectors are  taking notice.<\/p>\n","protected":false},"author":22,"featured_media":18455,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":1,"_editorskit_typography_data":[],"_editorskit_blocks_typography":"","_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","_mi_skip_tracking":false},"categories":[49,15],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Breaking Through with Blockchain Technology - EVO Payments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Breaking Through with Blockchain Technology - EVO Payments\" \/>\n<meta property=\"og:description\" content=\"Blockchain isn\u2019t just a trend or a fad, and companies in all sectors are taking notice.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/\" \/>\n<meta property=\"og:site_name\" content=\"EVO Payments\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-10T09:00:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-13T18:34:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lance Newalu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.evopayments.us\/staging\/#website\",\"url\":\"https:\/\/www.evopayments.us\/staging\/\",\"name\":\"EVO Payments\",\"description\":\"Simplifying Payments Around the Globe. 150+ currencies across 50 markets worldwide.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.evopayments.us\/staging\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/#primaryimage\",\"inLanguage\":\"en\",\"url\":\"https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner.jpg\",\"contentUrl\":\"https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner.jpg\",\"width\":900,\"height\":200},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/#webpage\",\"url\":\"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/\",\"name\":\"Breaking Through with Blockchain Technology - EVO Payments\",\"isPartOf\":{\"@id\":\"https:\/\/www.evopayments.us\/staging\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/#primaryimage\"},\"datePublished\":\"2019-12-10T09:00:52+00:00\",\"dateModified\":\"2021-12-13T18:34:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.evopayments.us\/staging\/#\/schema\/person\/0a06b032d3974eb829334f0d71e8de1d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/#breadcrumb\"},\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.evopayments.us\/staging\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Breaking Through with Blockchain Technology\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.evopayments.us\/staging\/#\/schema\/person\/0a06b032d3974eb829334f0d71e8de1d\",\"name\":\"Lance Newalu\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.evopayments.us\/staging\/#personlogo\",\"inLanguage\":\"en\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ebaf9d1ec66e7e090c6002b9a98d10c6?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ebaf9d1ec66e7e090c6002b9a98d10c6?s=96&d=mm&r=g\",\"caption\":\"Lance Newalu\"},\"url\":\"https:\/\/www.evopayments.us\/staging\/author\/lance-newalu\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Breaking Through with Blockchain Technology - EVO Payments","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/","og_locale":"en_US","og_type":"article","og_title":"Breaking Through with Blockchain Technology - EVO Payments","og_description":"Blockchain isn\u2019t just a trend or a fad, and companies in all sectors are taking notice.","og_url":"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/","og_site_name":"EVO Payments","article_published_time":"2019-12-10T09:00:52+00:00","article_modified_time":"2021-12-13T18:34:28+00:00","og_image":[{"width":900,"height":200,"url":"https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Lance Newalu","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/www.evopayments.us\/staging\/#website","url":"https:\/\/www.evopayments.us\/staging\/","name":"EVO Payments","description":"Simplifying Payments Around the Globe. 150+ currencies across 50 markets worldwide.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.evopayments.us\/staging\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en"},{"@type":"ImageObject","@id":"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/#primaryimage","inLanguage":"en","url":"https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner.jpg","contentUrl":"https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner.jpg","width":900,"height":200},{"@type":"WebPage","@id":"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/#webpage","url":"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/","name":"Breaking Through with Blockchain Technology - EVO Payments","isPartOf":{"@id":"https:\/\/www.evopayments.us\/staging\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/#primaryimage"},"datePublished":"2019-12-10T09:00:52+00:00","dateModified":"2021-12-13T18:34:28+00:00","author":{"@id":"https:\/\/www.evopayments.us\/staging\/#\/schema\/person\/0a06b032d3974eb829334f0d71e8de1d"},"breadcrumb":{"@id":"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/#breadcrumb"},"inLanguage":"en","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.evopayments.us\/staging\/breaking-through-with-blockchain-technology\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.evopayments.us\/staging\/"},{"@type":"ListItem","position":2,"name":"Breaking Through with Blockchain Technology"}]},{"@type":"Person","@id":"https:\/\/www.evopayments.us\/staging\/#\/schema\/person\/0a06b032d3974eb829334f0d71e8de1d","name":"Lance Newalu","image":{"@type":"ImageObject","@id":"https:\/\/www.evopayments.us\/staging\/#personlogo","inLanguage":"en","url":"https:\/\/secure.gravatar.com\/avatar\/ebaf9d1ec66e7e090c6002b9a98d10c6?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ebaf9d1ec66e7e090c6002b9a98d10c6?s=96&d=mm&r=g","caption":"Lance Newalu"},"url":"https:\/\/www.evopayments.us\/staging\/author\/lance-newalu\/"}]}},"uagb_featured_image_src":{"full":["https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner.jpg",900,200,false],"thumbnail":["https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner-150x150.jpg",150,150,true],"medium":["https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner-300x67.jpg",300,67,true],"medium_large":["https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner-768x171.jpg",768,171,true],"large":["https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner.jpg",900,200,false],"1536x1536":["https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner.jpg",900,200,false],"2048x2048":["https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/12\/blockchain-banner.jpg",900,200,false]},"uagb_author_info":{"display_name":"Lance Newalu","author_link":"https:\/\/www.evopayments.us\/staging\/author\/lance-newalu\/"},"uagb_comment_info":0,"uagb_excerpt":"Blockchain isn\u2019t just a trend or a fad, and companies in all sectors are taking notice.","_links":{"self":[{"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/posts\/4587"}],"collection":[{"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/comments?post=4587"}],"version-history":[{"count":7,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/posts\/4587\/revisions"}],"predecessor-version":[{"id":20774,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/posts\/4587\/revisions\/20774"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/media\/18455"}],"wp:attachment":[{"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/media?parent=4587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/categories?post=4587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.evopayments.us\/staging\/wp-json\/wp\/v2\/tags?post=4587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}