Benefits of using Blockchain - Discussion

Blockchain and Bitcoin 101
#547

Very secure and will be very helpful in the future with information tech

1 Like
#548

it’s a network by the people for the people all over the world, secure and uncensored by central organisation.

1 Like
#549
  1. Transparency:
    • All transactions within the blockchain is viewable making the verification by all parties easier.
  2. Security:
    • Since transactions are stored in a block which are later linked by encrypted links to the previous block that cannot be changed or manipulated, the blockchain remains secured to a greater extent than traditional record keeping systems.
  3. Improved traceability:
    • Blockchains can trace many different aspects of a good such as supply chain, manufacture process, distribution, ingredients etc.
  4. Increased efficiency and speed:
    • Removing the middlemen leds to faster transactions. P2P increases speed for transactions and enables smart ways for money allocation without the need of extra institutions.
  5. Reduced cost:
    • Blockchain has the potential of disrupting tradition mainstream markets and by doing that also higher the efficiency and remove the middlemen all resulting in lower fees and higher marginals.
2 Likes
#550

Decentralisation - Transparency - Security - Immutability - Applicable to different industries (not only Finance)

1 Like
#551

Very well protected with cryptocurrency, have more control, and the most trusted.

1 Like
#552

Great benefits, tracebiity, accountability. A lot of savings involved as well. Very safe of course
Cuts out the big institutions. Democratic.

1 Like
#553

Test C
Transparency
Efficiency/Speed
Security
Traceability
Cost reduction

I was just thinking, when it comes to charity organisations, I´m always a bit concernd if my money goes to where it´s intended to go. Wouldn´t a block chain based charity organisation be a good solution to doubtfull peaople like me?

#554

Hmmm :thinking: probably. Have you checked online? There might already be a project like that out there. Unfortunately I don’t know of any. :slight_smile:

#555

Thank you so much for the invite to this great place!!

#556

Permission-less participation is BIG,
Blockchain prevents participants to ‘cook the books’ = amazing!

#557

Blockchain enables tracability and removes the need for trust, creating a trustlessness ecosystem. It also creates a safer enviroment.

It eradicates the need for a middleman like a bank in a normal financial system.

1 Like
#558

Decentralize, Immutable, secured

1 Like
#559

Two words come into my mind - Control and Freedom. These both you could do through Blokchain :slight_smile:
Control - could stand for a total transparency and thus easier control
Freedom - could stand for release from the old systems and mechanisms that become a burden.
Something like this.

2 Likes
#560

I think with blockchain, people don’t need to rely on any government or other people. A person gains more control and awareness of one’s finances occurs, especially when a person needs to do the work themselves to learn how to use something like blockchain.

1 Like
#561

I think that a very important feature for this constructed algorithmic structure to work is the Consensus, whose main objective is to remove trust.

1 Like
#562

Blockchain allows for the deregulation of currency, allowing for total autonomy of ones finance while still remaining secure, due to the ability to track and verify the whereabouts of each indivisible data bit.

1 Like
#563

Decentralized, trustless and being way more effective!

1 Like
#564

to build trust without trusting anyone.

1 Like
#565

Lesson 1: Video wont play/load … any advice

#566

will provide access to good and services for potentially all people on the planet. A large share of the population will now have access that was controlled in the past.

1 Like