What is a blockchain sandbox (What can a blockchain sandbox be used for)?
What is a blockchain sandbox? What is a blockchain sandbox? It mainly has three
What is a blockchain sandbox? What is a blockchain sandbox? It mainly has three types, one is open and permissionless. In traditional financial fields, regulators usually require participants to submit appropriate and relevant documents for due diligence or other related work to prove their authenticity. However, the development of blockchain technology is still in its early stages in many countries, so a blockchain sandbox can help governments establish a sustainable system. The blockchain sandbox provides an entrepreneurial environment for enterprises by combining innovation with application.
What can a blockchain sandbox be used for?
According to Mars Finance, there can be many application scenarios in the field of blockchain, but currently it is mainly concentrated in financial technology and healthcare. The most representative case is IBM’s “AI-based distributed ledger”.
For non-profit institutions such as banks, using a sandbox for regulation may be a relatively ideal way. However, a blockchain sandbox can also be used to help them solve some problems, such as data security, privacy protection, and other technical challenges, including how to improve efficiency and reduce costs, and so on.
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