At the time when bitcoin is rising on the popularity charts in India, Coinsecure and OKCoin have entered into a partnership to enable remittances into India via the blockchain technology. Bitcoin’s underlying technology – the blockchain is the buzz word in the financial technology space. The benefits offered by blockchain are too fascinating to ignore, which have made it the most talked about, researched and experimented financial technology in the present times.
A blockchain is a public ledger of all transactions that have ever been executed. It is constantly growing as ‘completed’ blocks are added to it with a new set of recordings. The blocks are added to the blockchain in a linear, chronological order through cryptography, ensuring that they remain meddle-proof. The blockchain thus stands as a tamper-proof record of all transactions on the network, distributed to all participants. It has to the potential to reduce costs for international payment transfers by one-third while accelerating the speed of such transactions.
The services will soon be available on Coinsecure’s website and mobile application. As per Coinsecure, “We aim to provide the lowest fee in the industry and with a proof of work over the blockchain network. This