Benefits of using Blockchain - Discussion

Block Chain is secure, efficient, no middle men, less expensive

I wonder if it’s possible and reasonable to use blockchain in the not developed countries, where computers and smartphones are not so common like in Europe or USA?

If there is no internet it is not possible but if there is it is possible and reasonable to be part of it, that is the whole point of decentralization.

Blockchain is technology that can keep all data in the secure way.It means everyone can investigate all transaction that happenning but it not means it is secure until cannot hack. :scream:

Permission-less, Immutable, Transparent (Public Blockchains)

My first insight into blockchain development displays benefits such as

  • decentralization
  • public ledger on display
  • Neutral, taking back power from middleman

There is an interesting video “The Largest Ponzi Schemes in History” on ColdFusion Channel that even describes the US Federal Reserve System as just one big ponzi scheme… I also learned who Charles Ponzi was!

Blockchain development might produce benefits in the future, but there will be others who take advantage of those who do not do their own research! Providing education to others will be key in this transition.

https://www.youtube.com/watch?v=5S-ZjGvOZ1A&ab_channel=ColdFusion

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Bitcoin enables anyone to become their own bank with 100% control. It will soon not only be a means of storage but for fast transactions also. Its also super secure but the most important thing is its finite and cannot be reproduced. bye bye fiat!

Blockchain will be the new language of the human species.

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T IS EASY TO USE BLOCKCHAIN AND IT IS DECENTRALIZED AND ALSO WE DIGITALIZE THE CURRENCY.

Is it because blockchain technology makes it possible to decentralize power and control as well as allow under represented groups access to innovating technology?

Hey I just don’t really know the difference between a ledger and a node. Can someone explain the difference?

Blockchain is just one type of distributed ledger. And distributed ledger means a database that exists across several locations or among multiple participants. A Bitcoin node is any computer that runs a Bitcoin implementation and stores the entire blockchain

Yes I know the distinction much better now! Thanks for clarifying!

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Benefits of using blockchain: transparency, security, improved traceability, increased efficiency and speed, reduced cost. Remembering these five benefits alone could probably make us powerful blockchain advocates and ambassadors.

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hey guys im new here its nice to meet you all i look forward to meeting and chatting in the future. :grinning:

I think the most important feature of using blockchain is the reliability and trust that it cannot be manipulated!!

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In the new world of decentralized technology, blockchain information is recorded into the world wide ledger, immutable, unchangeable, to be seen through the lens of truth and transparency. As long as we are connected through our honest communities/ecosystems and have Web 3, it can liberate people from the hierarchy of control and manipulation.

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I believe the most important part of the blockchain is that it’s permisionless. Anyone, anywhere can join the network both. Other important factors are trustlessness, and transparency.

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The benefit of using blockchain is the transparency and the benefit that any movement everyone does it would be recorded so the system will became something more secure and well use

Hello!
How are you doing sir,
You trade crypto?