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Launched back in August 2020, Binance Smart Chain(BSC) is an independent blockchain that runs parallel to the Binance Chain. It paved its path in order to cater to better flexibility of smart contracts which was missing in the Binance Chain along with EVM compatibility. Binance Smart Chain is a recent development that benefits its users with a rich and growing digital asset ecosystem.
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Distributed ledger identity management has the potential to transform both user experiences and business processes. Users can enjoy improved privacy and security as they acquire more control over their personal information. Consequently, this diminishes the likelihood of identity theft and unauthorized data access. Conversely, businesses can profit from optimized identity verification procedures and enhanced interoperability, resulting in increased efficiency and reduced operational expenses, coupled with robust fraud prevention measures, easier regulatory compliance, strengthened customer trust, and decreased financial risks.
