- Because blockchain is immutable datastructure. No one actually can falsificate data that was once written down in it.
- For the opposite reason anyone who has access can change data in it in any time .You can’t trust data which is totally controlled by single central authority
- They can avoid fraud by using it. They can use to verify their counterparty mediation.
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I like that it’s decentralized, private (as far as purchases go), and in control of the people.
However, it seems to be losing its point on peer-to-peer transactions with all of the fees that are entailed.
Isn’t one of the main points of it to avoid all of the fees that the banks impose on us?
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yes i love watching and reading sci-fi, I haven’t checked out “in-time” though, thanks for the suggestion!
having public ledgers allows for provenance.
Normal databases don’t have access to all transactions that the wallets have engaged in.
The supply chain is visible.
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Have you tried again? 
Wouldnt it be easier to ask the question the other way around? The possibilities and therefore benefits are endless.
-truth is proven by the network
-central databases truth can be altered
i think one of most important think about blockchain is , that it can not be controlled by govermanet
No banking protocol to wait or pay a fee. That’s what comes to my mind at first.
Better transparency and security.
“enhanced traceability and security . No records can be lost, destroyed or replaced. On top of that, a blockchain-based system eliminates the risk of documents or goods being stolen through fake identifiers; safer and more transparent transactions, leading to increasing trust among all parties involved”
Traceability, decentralisation, security, transparency
Henry - It was expressed in the lectures how important to
make sure that you get at least six confirmations to make
sure your Transaction gets added to the Blockchain.
The Transactions I have done just show up as Unconfirmed
or, after awhile Confirmed.
Is there a specific way to determine how many Confirmations
get done to a Transaction?
Many thanks!
Once the tx is confirmed it means one tx and each consecutive block added after it means another confirmation.
benefits of using blockchain: it’s decentralised, once a block is written into the blockchain it cannot be changed (immutability), it’s more secure (working on concensus between many nodes), it’s more transparent (for some blockchains, everyone can see all blocks and transactions), it can be very private.
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Block chain allows us to rely on technology in a transparent way and take humans out of the picture. It is more trustworthy.
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I ask this 1 question. If i gave a young kid a laptop and paid for Ivan on tech classes,(the kid who has ambition and big boy pants), would be able to take his family out of the slums’? I feel that blockchain may do this but I don’t know if i am giving this industry to much credit. If this is the case let me know if this is true?
He could probably learn a lot, but I don’t know if they would allow a young kid to work, and would prefer 18+ in a developer job like that.
This has gotta be the most concisely phrased answer here thanks man