About Isiklar Coin
Before the blockchain era, commerce required building trust between the transacting parties, which in practice meant proving that each party was capable of fulfilling their obligations in accordance with the terms agreed beforehand. Failing to stick to one’s promises would wreak havoc in the markets.
Consequently, there was a need for a third party, a financial intermediary, that would take the risks of the counterparty default unto itself. Whether due to practical reasons following from market necessity or because of imposed regulations by government agencies, middlemen became an integral part of the market landscape to ensure every party kept up their end of the bargain.
The blockchain technology removes the need for a middleman as the validity of a transaction is confirmed by the network of independent nodes. A decentralized, distributed one-way ledger existing in thousands of copies across the world removes the overhead introduced by third parties, with a bonus of greatly diminishing the time it takes to confirm a transaction.