Transparency- With the blockchain it takes the need of having to trust a third party out of the equation. Without this need there is an open trust between parties that the blockchain provides. It is public so any audit can be done easily in a totally transparent way.
Security - With blockchain security is in the process of consensus as in with bitcoin the miners secure the network by using there own electricity/energy. It is in this process and the incentive of being rewarded that keeps the blockchain secure. All the nodes/miners have the same goal to provide accurate information and get rewarded for that block.
Improved Traceability - Before blockchain supply chain was sloppy, depending on many other parties for tracking information. It was easy to tamper with and open to fraud. With blockchain tracking has become efficient and trustworthy as once data is entered it is there to stay and can easily be audited at anytime to see what has been where or used for what things.
Increased Efficiency and Speed - Blockchain has the ability to eliminate all paper trails making for a much more efficient way of recording and transacting. Before blockchain sending money across the world was timely and expensive and you would always have to use a third party. With bitcoin you do not have to use a third party to send money at least not a third party that you would have to pay, unless your consider miners a third party. I guess they would not be though because they are just part of the system itself. Definitely open to interpretation I guess. The other point in regards to speed is as blockchain technology improves in its speed of consensus it will be unlike anything we have seen in its ability to store and record data/transactions, and it will do so using less time and money by the consumer.
Reduced Cost - Blockchain will reduce cost by cutting out third parties companies would otherwise pay to store data and transact with.
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Transparency: All parties can acces the documentation on the distributed ledger, which cannot be altered without consensus from all parties.
Security: Transactions must be agreed upon. The documentation is stored across a network of computers, making it very difficult for hackers to corrupt the data.
Improved traceability: When exchanges of goods are recorded on the blockchain they leave an audit trail that indicates where the product came from and all the stops it made on its journey.
Increased efficiency and speed: Because all records are kept on a single digital ledger you donât have to keep multiple ledgers anymore. All the same data is shared which makes it easier to trust eachother without the need of multiple intermediaries.
Reduced cost: You need to trust less people so you donât have to pay as many.
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Transparency: Transparency allows every participant to be on the same page, thus increasing trust in the transaction or agreement. One database that everyone participating has access to, therefore it can easily be verified.
Security: With the use of a block chain you decentralize the database among a massive network, therefore any malicious attempts to edit the database becomes significantly more difficult to do so. Keeping data secured.
Improved Traceability: Data entries can be traced from the very point it entered the database allowing one to follow that data point as it interact with the rest of the network. Distribution and supply chain will benefit from this as now one will know where that product came from and who interacted with it.
Increased efficiency and Speed: Almost all transaction today requires a middle entity to ensure that participating parties are playing by the rules, sometimes these middle entities requires a lot of time, and compensation for that service, if the middle men is to be cut out, it can offer increased transaction settlement speed as well as save costs between the participants as well as the end receiver(customer). Automation is key, lower barrier of entry allows more participants to interact and take part of the economy.
Reduced Cost: Blockchain is a big player when it comes to automation. Once we automate redundant tasks such as middle men it allows for a increase time cap, which we all know the saying, âtime is moneyâ.
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- Transparency: Meet the controlling requirement of anyone. Nothing to hide.
- Security: No fraud or unlikely information can happend. Hence the reason to why you can do business with strangers. The spread in a wide network makes it hard/impossible to hack.
- Improved traceability: You need no middlemen to autenticate the process. It´s done very aqurate.
- Increased efficiency and speed: As we need no paper work and slow admin, the efficency and speed is highly increased.
- Reduced cost:Time is money. Less old school controlling genreate cost. As we can se upsides with blockchain, the cost is less in general.
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Explain with your own words, why these are the benefits of using a blockchain.
Transparency: As the ledger is publicly available, it provides transparency.
Security: Transactions are linked to previous and next transaction, plus the ledger is agreed by consensus. Therefore change of an agreed transaction becomes very difficult.
Improved traceability: The blockchain allows full traceability
Increased efficiency and speed: Different participants all agree on the same protocol, reducing conversion costs.
Reduced cost:
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Transparency: everyone has access to the same data, it is open for anyone to verify.
Security: altering information on the blockchain would require taking over the entire network or convincing all parties (who do not know each other) to cheat simultaneously.
Improved traceability: since data is immutable, an assetâs journey can be traced without any ability to cheat.
Increased efficiency and speed: Blockchain doesnât require time consuming mechanisms for creating trust between two or more parties, and reconciling different versions of an agreement. There is one agreement which is on a public blockchain, and everyone can see it and verify it publicly.
Reduced cost: getting rid of intermediaries reduces costs.
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Transparency:
We have all records in old banks to be untrustworthy either we lost money in the transaction; now with the blockchain, we know that transparency itâs indispensable to blockchain, because we agree transactions and movements and we know that blockchain is more accurate and transparent than banks, it cannot be volatile.
Security:
With the blockchain we know how secure is, we know that the blockchain works 24/7 the 365 days of the year and never gets down, for that, hackers have more difficult the job to brake the security system that blockchain has, it breaks all banks, all paper system, all government issues.
Improved traceability:
With the block chain we can know they are origin of our resources it means to avoid frauds, we can know where is the coin coming from.
Increased efficiency and speed:
We are talking about internet; we know when we use the internet is realy speed and efficiency; but bankâs tramits are not, you have to spend too much time in a call or a branch; even sometimes tramits in Banks on internet are really difficult, with blockchain; we have the system working 24/7, so we donât have to waste time even waiting for the bank to open or to call; itâs not failable.
Reduced cost:
You donât pay to another person for your transaction or to save your money, the Blockchain does everything with no cost 
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Transparency. Because all transactions have to be approved by a consensus then it gets added to the blockchain and shared on all computers so that same information is available to everyone.
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Security. The more blocks you have the more secure the network which is why Bitcoin is super secure because it is so huge. Because the same information is stored on so many computers it makes it so much harder to hack. Can only be updated by a consensus of all of the network.
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Improved traceability. We now have the ability to know the exact journey of our goods because its recorded on the blockchain. We have a record of every stop it made. I can see how important this will be with regard to food, organic vegetables.
4.Increased efficiency and speed. No more heavy bureaucratic paperwork and processes. Blockchain streamlines and automates these processes because they are on a single digit ledger with no need for intermediaries.
5.Reduced cost. No need to trust anyone on the other end of a transaction. No middlemen or 3rd parties. Everyone can see the transactions on a single unchangeable version. Less paperwork and processes.
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Explain with your own words, why these are the benefits of using a blockchain.
1.) Transparency: It produces accuracy, recorded, and distributed throughout the ledger all while
cutting out middlemen and other intermediaries.
2.) Security: After transactions are recorded, they are encrypted to prevent unauthorized activity
and fraud.
3.) Improved traceability: This benefit helps audit/track to verify the authenticity of assets and
prevent fraud.
4.) Increased efficiency and speed: This is achieved through automating and streamlining
transactions while distributing throughout the trustless network instead of multiple 3rd parties.
5.) Reduced cost: It reduces 3rd parties and middlemen while trusting the data on the immutable
blockchain.
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the transactions are transparent for everyone on the blockchain to see. all participants on the network need to reach consensus in order to bring about any changes. data on the blockchain is accurate, consistent and transparent.
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transactions must be agreed upon before they are processed. after it is approved, it gets encrypted and is linked to the previous transaction. all information is stores over multiple computers on a network, rather than on one single server. makes it very difficult to hack or change transaction data.
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exchanges on the blockchain are recorded from start to end. so an audit trail can be followed to track all stops along the way. this helps to verify the authenticity of products and protects against fraud.
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transactions can be processed fast and efficiently by using blockchain technology, which automates and streamline these processes efficiently. a single record is kept and shared among all participants.
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because everyone has access to the same single record, the data on the blockchain can be easily trusted. the fact that businesses donât have to spend money on third parties to assist with things like reviewing documentation etc.
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- Transparency - as blockchain is a type of distributed ledger, all network participants share the same documentation and it can only be updated through consensus.
- Security - transactions are agreed and approved, then encrypted and linked to previous transactions. This, along with information being stored across a network, helps prevent fraud and attacks.
- Improved traceability - audit trail can show details from every stage in a supply chain. Historical data helps verify the authenticity.
- Increased efficiency and speed - as record keeping is performed using a single digital ledger shared among participants, everyone has the same information, removes the need for intermediaries and streamlines processes.
- Reduced costs - less requirements for third parties to confirm transactions or provide guarantees. Data on blockchain is trusted and immutable.
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Transparency: All the data is open to the public which means everyone can track & audit each transaction in real time.
Security: Consensus applies a very important role here, which means the network needs to agree 1st if the transaction is legit before being recorded and confirmed, this process makes difficult for hackers to compromise the transaction data. Thanks to Consensus we no longer need to trust as we are able to verify.
Improved traceability: Provenance plays a very important role here because by having a public ledger, we are able to track where the product or service or ingredients are coming from, where the different items have been, if the supplier chain has pass etc (we will be able to track from the start to end of the process).
Increased efficiency and speed: With Blockchain we automate the process making it more efficient and fast with out the need of third party, human error, paper heavy processes or the need to reconcile multiple ledgers.
Reduced cost: Third party is not needed or not need to have too many systems as with Blockchain you can have everything in one single transaction and also you have only one place where all of your transactions are available.
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Everyone can see when a transaction has gone through and the details of that transaction. The history of the database is stored on there forever so people cannot lie about transactions. This information is shared and available to everyone, not just the parties involved.
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It is secure as we depend on the mathematical system rather than on humans, who can have their own agenda and that system cannot be manipulated. Each transaction is agreed upon before being able to go ahead and people are incentised to tell the truth when approving the transactions.
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Blockchain is highly traceable as every single transaction is stored on the database. This means we can track every transaction and where it came from
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Computers can be much more efficient in processing information and there is less likelihood of error compared to humans. Transactions can be much quicker. This can even be used for auditing. Also, by taking away the trust element there is less need to check over all the details for foul play.
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Blockchain reduces the need for third parties and middlemen and therefore reduces costs. This saves a lot of time too. Time = money.
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Transparency: Transactions that happen on the blockchain are available to anyone on the network which means they all share the same original copy. The personal information is kept private but the transaction is made public and is stored on-chain in a way where the data cannot be changed without consensus.
Security: Blockchain security is achieved through consensus in order for transactions to be stored on the blockchain, which then distributes the data and stores it across the network. By storing the data across the network it is proven to be safer than storing all data in a single place.
Improved traceability: The ability to trace the entire lifecycle or process of products on a blockchain network between manufacturers and distributors will create the best validity system by the way of trustlessness. ( kind of struggled with this question any pointers?)
Increased Efficiency: Blockchain can combine multiple tasks into one single task through automation removing the need for multiple people for multiple steps in a process and also removes human error through its validation process.
Reduced costs: Automation of blockchain technology requires less people to do a task saving overhead. Another way businesses transacting on blockchain can reduce costs in merchant and transaction fees because it is a more direct payment system cutting out a third party that is often required.
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Seems fine to me. Though Bitcoin particularly is used to track transactions. 
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Transparency:
Blockchain increases transparency because it is a shared distributed ledger where transactions / updates can only be completed through consensus mechanisms. Once a transaction is complete, it is immutable and permanent.
Security:
Blockchain is crucial for security and preventing unauthorized activity because all data of the blockchain is stored in numerous nodes instead of one central server.
Improved traceability:
Blockchain improves traceability by enabling a trackable audit trail of every transaction that occurred.
Increased efficiency and speed:
Blockchain enables greater efficiency and speed of transactions because third parties that often slow down the confirmation process in traditional finance are not required.
Reduced cost:
Instead of paying for a third party service and having to trust their process, blockchain allows both parties of the transaction to only trust the data on chain and not have to worry about counter party risk.
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Transparency itself creates trust through the permanent and accessable ledger. Audits are no longer an issue, Accountants are no longer a necessity, and tax is no longer a necessity when funding community projects are transferred to private commercial sectors without the need for intervention from an inefficiant non transparent government
Security is designed in the blockchain structure through all players agreed protocols.
Improved traceability takes the world to the next level of instituting tecnological developments without fear of theft, copywright and IP fraud.
Increased speed in all administration processes through the protocol verification crypto system and provedent review, addition and improvement on the chain. Applicability to all sectors include legislative processes, legal processes, property processes all recorded in real time tranactions.
Reduced costs is exponential as imbeded taxes charged within product and service are no longer needed, and cost of work done product delivered value of final product delivered can be done, made and delivered at a fraction of the cost.
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- Transparency: Because blockchain is like a ledger where all the participants who has permissioned acces share the same data . Data is uncorrupt and for changing it you need to have consensus meaning that everybody has to agree on modification. Data on blockchain network is more accurate, consistent and transparent.
- Security: All the transactions are encrypted and linked to a previous transaction. Consensus. data is stored on network of computers opposite to one server which is very easy to hack.
- Improved traceability: All the actions of the supply chain from top to bottom leaves a permanent mark on the blockchain.
- Increased efficiency and speed: Because data is processed digitaly on the blockchain its more efficient than heavy paper process which is exposed to the human errors. The fact that all the data is accesible for all parties increases the trustlesness. When the process is quik and efficient the result is quiker clarification and settlement.
- Reduced cost: You dont need to spend time to review the documentation and use middlemen for verifying information in not needed, because all the parties have access to all information.
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WHY the following are the benefits of using Blockchain?
Transparency. Every transaction is displayed in the public ledger viewable to anyone at any time. Blockchain doesnât hide information nor deletes data, it tracks them.
Security. The absence of third parties eliminates the need for trust and Blockchain is unhackable.
Improved Traceability As networks of computers agree to confirm an information/transaction added to the public ledger. Anyone who knows how traceability works has direct access to where the next transaction heading.
Increased efficiency and speed: This is one of the major features of Blockchain, the speed of each transaction is a lot faster compared to the traditional networks outside Blockchain.
Reduced cost: All of the above benefits using blockchain undoubtedly creates a cost-effective for groups of developers who launch startups on the Blockchain.
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Transparency: Everyone has a copy of same ledger and everyone has to agree to changes.
Security: Data cannot be changed without consent and therefore hacker would find it difficult to cheat it.
Improved Traceability: Everything is logged, each link on the supply chain is recorded on the blockchain.
Increased Efficiency and Speed: No third parties needed and only one record needed rather than multiple, possible different ledger, in existence.
Reduced Cost: No third parties needed.
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