I understand and you’re right about that!
Except you could better use something different than XRP for payment. The lighting network is also great for that. (instant settlement)
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1] Blockchain provides a trustless digital environment for tracking transactions
2] Centralised (single control) closed systems, zero transparency. Data can be changed or removed
3] Interoperable, auditable, cost-efficiencies, real-time and agile, public, and guaranteed continuity
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Opportunities for anyone, blockchain is equality, you may say it’s risky but for myself the more I learn about it the less risky it becomes, because it has such strong fundamentals !
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Decentralised
Cost and time efficient
Secure
Transparent
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Trust-less, but verify.
A trustless system in our global economy will help curb corruption and build a fairer system. The peer to peer transactions will also help the small business person keep more of the profits.
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We could be very detailed and technical.
But most of all,
- Blockchain make us stick to a protocol, so rules cannot change because of circumstances
- Blockchain as Bitcoin is decentralized but nobody can make it get stuck. Personal identity and funds do not depend on a central body or autority
- It requires for us become fully responsible for our own money and attention… We cannot delegate this anybody.
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Verifies transactions. Nothing can be taken out or replaced from the block. Ultimate security
Hi again from mexico
Will the miners be made better , like we can all have in our homes to make things better for all or is it the strong survive only? Either is fine with me as long it’s not for our demise.
Interesting on how this technology will change then infrastructure of existing business protocols ie: key accounts, order and/or delivery tracking. The possibilities are endless.
Beyond all the “technical” benefits that have been widely mentioned and analyzed in previous comments, in my opinion one of the most interesting benefits that Blockchain could bring to society is related to the creation of a fair, transparent and borderless system. Such a change would affect not only the economy, politics and progress but more generally the whole way we are members of society. The greatest impact would be in social and human terms, with all the consequences that this would then have in the various sectors. It would be interesting to see how, for example, the Blockchain could change the approach of the legal system within one country or between different nations, or even how it could change the way people are paid for their work and other “daily” experiences they have.
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Blockchain technology can provide an immutable, secure and transparent ledger that can be implemented in a vast variety of sectors. Like any other innovative technology, it can be used for bad (e.g. diminishing privacy and promoting mass surveillance), but certainly also for good. It will be up to humanity to decide which will prevail I guess.
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One of the main benefits are, blockchain technology allows for verification without having to be dependent on third-parties.
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It is a secure open decentralized system that is transparent.
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Benefits of using Blockchain:
- transparency (and scrutiny) of the information and its source
- proof of authorship / ownership
- no central regulation or authority (no censorship)
- legacy
- transfer of value / ownership
- universality
- durability
Benefits of using Blockchain
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Immutable, trust-less, and decentralized.
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Immutable, Decentralized, More Secure than traditional networks and everyone can participate.
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For so long institutions, banks and governments have drawn imaginary lines what we must or must not cross. Blockchain allows us to erase those lines and draw our own, if they are sensible and attractive then a community will form around them. The blockchain is freeing.
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For me the biggest benefit of blockchain is eliminating cheating. Level playing field for all humans in regards to finance.
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