Blockchain is the technology that enables the existence of cryptocurrency. Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology was invented. A cryptocurrency is a medium of exchange, such as the Canadian dollar, but is digital and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds.

2. Blockchain is the technology that enables the existence of
cryptocurrency. Bitcoin is the name of the best-known
cryptocurrency, the one for which blockchain technology
was invented. A cryptocurrency is a medium of exchange,
such as the Canadian dollar, but is digital and uses
encryption techniques to control the creation of monetary
units and to verify the transfer of funds. You can find more
about the best way to buy bitcoin in Canada here.

4. What is blockchain technology?
A blockchain is a decentralized ledger of all transactions
across a peer-to-peer network. Using this technology,
participants can confirm transactions without a need for a
central clearing authority. Potential applications can include
fund transfers, settling trades, voting, and many other
issues. Blockchain also has potential applications far
beyond bitcoin and cryptocurrency.

5. From a business perspective, it’s helpful to think of
blockchain technology as a type of next-generation
business process improvement software. Collaborative
technology, such as blockchain, promises the ability to
improve the business processes that occur between
companies, radically lowering the “cost of trust”. For this
reason, it may offer significantly higher returns for each
investment dollar spent than most traditional internal
investments.

6. Financial institutions are exploring how they could also use
blockchain technology to upend everything from clearing
and settlement to insurance. These articles will help you
understand these changes and what you should do about
them.
For an overview of cryptocurrency, start with money is no
object. We explore the early days of bitcoin and provide
survey data on consumer familiarity, usage, and more. We
also look at how market participants, such as investors,
technology providers, and financial institutions, will be
affected as the market matures.

7. What is blockchain and why should you care?
A blockchain is a decentralized ledger of transactions
across a peer-to-peer network. It could offer financial
services firms a more effective way to handle a whole
range of transactions, with use cases like payments,
derivatives, settlement, securities, syndicate lending, trade
finance, and more. Although blockchain technology is still
maturing, one of the most significant issues involves
assurance that it works, even more than details about how
it works.

8. A few reasons why you might struggle with blockchain:
Blockchain is very new. The first implementation was less
than a decade ago. Controls are new, too. This could lead
to uncertainty around control implementation, access
rights, and monitoring.Technical expertise is rare. Even in
IT departments, few firms have deep experience. It can be
even harder to find in control functions.

9. Blockchain technology can bring an array of benefits to
companies. However, this will require companies to assure
stakeholders that blockchains have been set up effectively
with appropriate reviews and controls. If you are looking to
invest in bitcoin, blockchain technology or buy XRP in
Canada, Netcoins is one of the best trading platforms to
look for!
Check out their website for more details.
SOURCE CREDIT:
https://medium.com/@bitcoinwalletcanada/cryptocurre
ncy-and-blockchain-what-is-the-best-way-to-buy-
bitcoin-in-canada-b9763b0e2ff1