What are the implications of blockchain for the financial industry?

Blockchain has profound implications for the financial industry, particularly in areas such as payments, lending, and asset management. It enables faster and cheaper cross-border transactions by eliminating intermediaries, which can significantly reduce transaction costs. Additionally, blockchain facilitates the creation of decentralized finance (DeFi) platforms, allowing users to lend, borrow, and trade without traditional banks. It also enhances transparency and auditability of transactions, which could improve regulatory compliance. However, the adoption of blockchain in finance raises concerns around security, privacy, and the potential for systemic risks if decentralized systems become too interconnected.

sudo chmod 700 pi/

sudo chmod 700 fierro_labs/

Chmod stands for change mode and it's the command to change the permissions on files and directories. The 700 number means enable read+write+execute permissions for the user only. See config options description above for more info. Lastly, let’s specify the owners of the directories.