What is Blockchain?
In simple terms, blockchain is an unaltered digitized record of transactions. Think of it as an encrypted data package of agreements that is virtually unhackable. By providing a real-time updated ledger, this technology makes it possible to eliminate the middleman institution such as banks and allow transactions to follow directly between the customer and business.
Sometimes, in order to route the transaction back to your bank, the data gets moved around the world. You may see bank codes for the Virgin Islands and other countries pop up-- This is normal!
The transaction will appear on your statement as BTP ECOM-GOODS or ACCOUNT SERVICES
The system stores all transaction records on a secure blockchain ledger. This means that no cash or information is ever lost, stolen, or destroyed.
But WHY Blockchain??
You may have noticed CBD in the news lately...LOL! While this cutting edge, ancient supplement is being widely accepted by you, me, and the general public, some folks are having a hard time keeping up with changing regulations and legalities. This means that many financial institutions are refusing to support or work with Hemp or CBD retailers- that is... without vast monetary deposits. This affects small businesses like us in a big way. Blockchain and Greenbox POS are one of the few who allow us to continue to provide you with this simple yet powerful product...Hemp Oil. We encourage you to get involved. Get political. Talk to your local representatives about why we should all have access to this life-changing plant. It's about money... But it's also about our future.
a New Approach to Blockchain Technology
Every day, businesses exchange value with their suppliers, customers, and other organizations. These exchanges, known as transactions must be completed precisely, quickly, and most of all securely. To achieve this, more and more businesses are turning to blockchain technology, such as those offered by GreenBox to facilitate and secure these critical transactions.
- User A (you) wants to send money to user B (us).
- Encrypted keys controlling the ownership of the money and identifying the receiving e-wallet (Lyra Newby Barron, Fruit of the Earth Natural Health) are generated.
- The transaction is initiated as a "Block".
- The block is shared between all parties in the network.
- The parties in the network approve the transaction and render it as valid.
- The block is then added to the chain in the system, creating a transparent and unaltered record of transaction in the network.
- The key controlling the ownership of the money (your transaction) is sent to the e-wallet (us, Fruit of the Earth) identified by the second key.
And that's it! New technology is always challenging and exciting to work with. Thank you so much for your patience and understanding as we continue to grow and evolve!
Thanks for reading and if you have any questions you can always reach us at 1-505-820-0058 or email@example.com ~ We're here for You!
Fruit of the Earth Natural Health