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Blockchain uses a new technology based on sequences of blocks or groups of transactions that are chained together and distributed among all users. Each participant on the blockchain has a secured copy of all records and changes on the chain, whereas traditional databases are centralized and run by an administrator, with only one true record of all transactions. As new information comes in, it is entered into a fresh block and is linked back to the last closed block, with the chain constructed in chronological order. Decentralized blockchains are immutable, which means that the data entered is irreversible. Bitcoin, for example, operates on a decentralized blockchain, which means that transactions on the platform are permanently recorded and viewable to anyone in the community.
Imagine a digital ledger as a spreadsheet shared among several computers in a network. This spreadsheet stores data on all transactions and anybody in the community can see the data, but they cannot change it. Given the importance of record-keeping of data and transactions, this information is often handled by a third party like brokers, bankers, or lawyers, which increases the time and costs associated with transactions. Blockchain, on the other hand, avoids this long and tedious process with faster transaction processing, as well as greater visibility among all parties involved.
Through the use of smart contracts, transactions on the blockchain can run when predetermined conditions are met, executing with the mutual consensus of users. These contracts allow for the programmable automation of payments when the trigger criteria are met. In mentioning digital assets, one refers to the records of ownership of such assets held securely on a blockchain. The blockchain enables the transfer of these digital assets, and in GreatX’s case, the tokens investors can buy are backed by real physical assets. Cryptocurrencies, on the other hand, are not backed by real assets.
“The blockchain is going to change everything more than the internet has”
Digital assets that are not backed by physical holdings or fiat currencies fluctuate widely in value, but asset-backed digital assets allow investors to gain similar benefits to the owner of the asset backing it, but at an increased level of transparency, and security, automation, and accessibility.
Women of Influence (Innovation) winner Annelise is the co-founder of GreatX with prestigious accolades to her name. Annelise has 25+ years of experience in the capital market and has in the past managed portfolios as large as $400B.
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We are currently working on creating something amazing for you. The DAD Foundation website will be up soon. Stay Tuned!
GREATX by invitation ONLY:
Limited Tokens and Limited Subscribers.
GreatX tokens are issued only by invitation. The invitation is issued only to 11,000 subscribers across the globe, to participate with a limited number of Hotel Rooms across the United States.