Benefits of using Blockchain - Discussion

I actually don’t know what putting a hand on something means? Like adopting it? Even if they will, they will not distribute it to you, so better stack up yourself :stuck_out_tongue:

putting a hand on something means the same way the banks does, which consider making me impossible to use the money, make taxes on this earned coins so high that it is no longer profitable to play at the market, only for big players…so than stacking up for myself would be impossible also…or not?

Maybe if they congested the network with expensive fees, but even in that case they would eventually run out and you could get your sats :slight_smile:

For me, the biggest benefits of using Blockchain is that it is decentralized (without a “man in the middle” controlling our wallets), transparent, safe and immutable.

I also like how you can track where your money comes from

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ok…hope i will manage in the future to get sats…still a baby crypto woman :upside_down_face:

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Blockchain technology is slight_smile:

Global, fast, immutable, transparent, secure, without intermediation

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Blockchain Technology can have many benefits, from tracking financial record, land deeds, wills, and many more. It allows the users to create an environment of trust and honesty.

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  • How does blockchain enable digital provenance?

immutable digital real time record…information can not be deleted …a digital stone

  • Why doesn’t a normal database bring the same provenance?

corruptable …information may be deleted or get lost . Dependant on trust

  • Why is digital provenance such a great benefit to many businesses?

trust-less…no trust needed just verification / fast/ private and public access

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You are correct but you posted the answers in the discussion thread :slight_smile:

Anyone in the world can own a piece of the infrastructure that decentralized applications are built on.
Similar to if you could own a piece of the internet.

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Provenance - Questions

  1. How does blockchain enable digital provenance?
    Immutable digital upto date real time records

  2. Why doesn’t a normal database bring the same provenance?
    Can be changed, records erased/edited/added. Large DB would be expensive in manpower/energy and security to name a few.

  3. Why is digital provenance such a great benefit to many businesses?
    Can be public or private, is trustless, records never lost.

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It is a system by its own and nobody is in charge of it.

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Blockchain is a transparent, immutable, high availability, secure and tightly authenticated. Prevent single point of failure, hacking, cheating and fraudulent manipulation and provide a proven trustless environment even dealing business transaction with total strangers.

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Transparency and trust less are my main draws to it.

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Benefits of using blockchain —> DECENTRALISATION❤️

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Blockchain will change banking, and simplify asset ownership in the coming years. There are many industries that exist because 3rd party verification is required. Title insurance is a great example of an industry that can be eliminated by registering ownership and liens on a blockchain. In addition, it will create a more fair platform for asset retention for people who live in countries with questionable or corrupt governments.

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Immutability, ease of use, applicability, speed of use, personal control over your transactions. is what you benefit with blockchain tech

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thx :+1: :+1: thank you that helped a lot

If we can change the financial and monetary systems of the world through blockchain and decentralisation, we change the political system, the medical debacle, the media indoctrination hoax, everything. People don’t think everything or anything will change. The monetary system is the heart of the beast and it is being totally transformed. Decentralisation will change everything, for the good.

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Each process in a chain of events e.g. supplier to end user can be tracked and therefore improve the service by making it more efficient. Also i like the high security of each event in the chain because they cannot be altered, issues in a supply chain causing delays can be found and identified. Also the transparency and decentralised nature make it a great technology to improve the future of finance. Once fully adopted will eradicate inflation and price rises used by the current system.
:+1:

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