Transparency: All of the ledger is accessible to everyone, so transactions can not be hidden.
Security: The addresses are unique and not easily duplicated.
Improved traceability: It is easy to see where an asset has gone according to the blockchain record
Increased efficiency and speed: Since there are many copies of the blockchain, mistakes don’t creep in they just get voted out.
Reduced cost: Since everything is online, there is no cost of maintaining buildings, offices, staff, etc.
Transparency: The blockchain gives us transparency because its transaction ledger for public addresses is open to viewing.
Security: We do not use third party to approve anything, blockchain does the security for us by confirming the transaction and checking the data on the block, if all nodes agree that I have million bitcoin, that means I have it 
Improved traceability: Traceability is done automatically straight after the transaction by saving it on the blockchain. There is no need after time an audit to take place for transactions to be confirmed, the audit is done straight away by the nodes.
Increased efficiency and speed: Speed and efficiency comes from the fact that nobody is controlling the nodes they simply check the data and either confirm the transaction or not. If the nods have consensus about a transaction the transaction therefore gets executed, simple as that.
Reduced cost: Deploying a blockchain system in your SMB can help lower overhead expenditures by significantly reducing transaction costs. This means a small company can accept payment in Bitcoin or another blockchain settlement platform and pay fewer merchant processing fees
All transactions are available to download from the blockchain. Transactions can be followed live.
The blockchain build new transactions upon the old and is not reversible. It’s not possible to go back in time and change a transaction. A consensus is needed from the other nodes in the network holding the same data.
You are able to trace every transaction, and can easily locate the origin. It is not possible to change the previous data, and every transaction is build upon the previous.
It is efficient and fast because it is always readily available. There’s no need for middlemen. A vast network of computers performing the calculations. You do not have to exchange currencies cross border or wait for bank transfers. Automation of contracts and payments.
There’s often no need to hire any middlemen or be paying to banks to handle the transactions.
Transparency: All transactions are recorded in a public ledger and can be tracked in real time
Security: The chain cannot be manipulated as it is public and anyone can have a look at all transactions since the start of the chain
Improved traceability: Every transaction is public and can be tracked to the very beginning of the chain
Increased efficiency and speed: There is no need for middlemen or institutions to verify transactions
Reduced cost: No third parties to get paid
1: data on a blockchain is public and open to everyone for viewing
2: the data written cannot be altered and is decentralised, making it very hard to hack or change
3: all transactions are stored in blocks and they are “chained” up. this makes everything traceable.
4: it allows for the trustless nature of exchanges, the middleman can be cut out in transactions as they can now be done p2p
5: the middleman is removed from the equation
Transparency: is achieved by the fact that the transactions are public - anyone can access it.
Security: For a transaction to be added to the blockchain it must be validated by the network. Moreover, a blockchain is immutable - so whenever a transaction is added it cannot be removed. These two features provide a high level of security to the system.
Improved traceability: all transactions are recorded in the blockchain, providing traceability to the users.
Efficiency and Speed: By removing intermidiaries, transactions are made P2P, allowing faster and boarderless transactions.
Reduced Cost: The removal of middlemans (who usually charge a commission), the gains in efficiency, the faster transactions, all these features contributes for a reduced cost.
Transparency: You can view all information/data stored on the ledger as it is publicly available.
Security: Users are financially incentivized to be honest.
Improved traceability: The blocks on the ledger cannot be removed or amended, which gives you an audit trail of everything (whether it be supply chain or financial transactions).
Increased efficiency and speed: All activities is done on one network, shared globally which means it is always up and running (as users are incentivized to keep it efficient as well).
Reduced cost: It removes the need of an auditor, middle man (who takes commissions), waiting on communication (chasing for response wasting time which leads to wasted money), building trust (costs money to go out with these business people), waiting on payments etc
1.Greater transparency - It allows you to see the transaction ledger, allows anyone
in the public, therefore it gives far more accountability . It allows truth to be out there.
2.Better security - Blockchain is a lot safer and quicker because its all based on codes numbers and its
encrypted, therefore makes it safe from hacks. It is all formed by network of computers working together
4.Blockchain takes out the middlemen out of the game, it is decentralizing
anything that you want to do, either transaction or something else. Smart contracts
allow agreements to be kept.
Explain with your own words, why these are the benefits of using a blockchain.
Transparency: information is public and can be verified
Security: The data cannot be hacked, removed or altered
Improved traceability: Transactions can be traced and proven.
Increased efficiency and speed: Accsessable 24/7 and are real-time.
Reduced cost: blockchain removes the need for IT infrastructure, verification systems and ‘middle-man’ actors.
-The blockchain data is available for everybody to view, after it’s confirmed by the nodes
-More security because all the data is spread out globally, not in one place
-Tracebility: when the data is confirmed you can’t change it and it eny one can see it. information will be there
-Takeing out the middleman will increase efficiency
-Takeking out the middleman with increased effiency costs will go down
Transparency: It is transparent because in a public blockchain anyone can verify and see the transactions that are occurring:
Security: each block of information in the chain is linked by a complex mathematical number resulting from a very complex problem. This number that links them together is practically impossible to modify once in the chain.
Improved traceability: By being able to see all the way through the supply chain, you can better see the quality, origin and all those events related to that product, so it is much clearer the quality and origin of the product.
Increased efficiency: This is because the validators operate 24/7/365 without borders, which means that they are always on the move processing transactions.
Being P2P, there are no intermediaries that keep a part of the transaction.
Explain with your own words, why these are the benefits of using a blockchain.
Transparency:
Blockchain is a p2p decentralized system. Anyone can join the network and view the data stored in it. At the same time, it provides the highest-level security and the data can not be corrupted, altered or deleted. This will help to build more trust for the companies using blockchain.
Security:
The data in a blockchain can not be altered or deleted without these changes to be recorded and verified by other peers. Data is traceable, transparent and immutable. This removes the risk of fraudulent transactions, contracts etc.
Improved traceability:
Blockchain technology has a provenance feature, which is implemented via the append-only data structure and its strict chronological order. This removes the risk of corrupted and fraudulent data. It is a great advantage for many businesses who intend to share the real origin of their products, for music label contracts, exchange services, real estate contracts and many more.
Increased efficiency and speed:
The speed is achieved by removing the middlemen from the business processes. The transactions (or contracts etc) are getting much faster and with no risk of chargebacks. Efficiency is also reached by using smart contracts based on blockchain technology. This might be vital for example for insurance companies to automate the process of insurance payments without the risk of mistakes in the process.
Reduced cost:
Reduces cost is achieved by:
—avoiding middlemen services in the business processes.
—removing the risk of fraudulent chargebacks.
—keeping the data safe from corruption and leaking/being hacked.
—bringing more potential partners/customers via trustless technology, where they can verify any required data themselves without making inquiries and their own investigations.
Last but not least it provides benefits to businesses according to business sectors through:
Transparency
Because the public ledger in which is accessible to everyone who runs a node in-network, they can check the transactions in realtime
Security
Once a block is formed by the network of computers and added to the ledger, it is not possible to alter or delete.
Improved traceability
All the info is recorded in the block, it is open to everyone so you can easily trace the origin of the information which you are looking for
Increased efficiency and speed
Blockchain removed the 3de party or the middle man, which reduce steps to do the transactions and it facilitates the faster transaction by P2Pcross-border transfers with a digital currency.
Reduced cost
Extra parties in the business, an extra cost. The blockchain leaves out the middleman, it makes a faster transaction and also cheaper transaction fee.
Transparency is given through a puplic ledger. Everyone is able to proof the information on the ledgers.
The Trust in third parties is needless. All transactions were made on simple mathematics. No one can change a transaction, remove it or add sth to it without the permission of the other parts of the network.
Since every transaction is securily stored on the blockchain every step is traceable. In supply chains it means the parts of the chain are viewable for everyone.
No middle men like agents are needed anymore. Transactions were made in real time and immediately with reducing time and costs.
Paperwork is needless. Efficency increases.
Blockchain saves time and people involved. Costs are reduced.
Hey zozz
U have recently replied to long post about -what will happen when the miners finished working and Bitcoin to survive it has to centralised-. I hope u remember what post it is.and I
Appreciate u taking time to reply .
I can no longer find the post I posted. I have got a notification saying it has been flagged as inappropriate and removed by staff. I posted it in many places in the forum and not sure which is removed.
Anyway I am aware of game theory and looks like there are not many people here who think differently. Only u replied.
Keep ur mind in full alert.
Play the game smart. Do not listen to anyone. Literally no one .
No one is here to help. And no one is saying the truth.
If u want to know the truth , try and find oldest books written on the subject about what u want to learn.that’s the Only remaining way to access unchanged information. Places like these type of forums remind me of animal farms.where they follow the orders of their owner. I quit.
And I am pretty sure u know all of that already.
Good luck man. Wish u success
Had to reply u this cuz I couldn’t find any other way.
Explain with your own words, why these are the benefits of using a blockchain.
Transparency: without blockchain, you just rely on trusting an opaque business. Blockchain is a public ledger which can be viewed by everyone.
Security: Your data in a centralized database can be hacked or used by third party. In blockchain, transactions are confirmed by miners through consensus.
Improved traceability: supply chain and transactions can be easily traced.
Increased efficiency and speed: no intermediaries involved.
Reduced cost: no intermediaries involved such as banks which charge fees.
Transparency - Each transaction on the blockchain is viewable on a public ledger and holds users accountable.
Security - The design of the blockchain is such that it cannot be altered once written to the block, therefore, removing an element of trust and more so relying on a verification process to retain the integrity of transactions.
Improved Traceability - The blockchain creates a natural trail that can be traced for the purpose of supply chain integrity or authenticity.
Increased Efficiency & Speed - Blockchain transactions require no “middle man” which can slow down processes.
Reduced Cost - Removing the middle layers of transactions also removes the need to pay for such middle layer services.
1. Transparency:
Each block is a public ledger, and the information in it can be read by anyone, giving transparency to the business because the information stored in it is the only valid one and cannot be changed. As it is public it gives a new stage of accountability the companies have to take into account.
2. Security:
There is no way to modify the data in each block. The information is encrypted and linked to the previous block meaning all transactions made will be stored, this allows companies/people to make businesses with strangers knowing theres no way to reverse a transaction for example.
3. Improved traceability:
Many industries rely on the quality and origin of many goods and raw materials for the final product. Blockchain brings irrefutable provenance and with this the traceability is key to check wether the goods came from they should, or if the cold chain of food was not affected in the process.
4. Increased efficiency and speed:
Smart-contracts reduce paperwork because they are trustless and rely on maths. This cuts middlemen and bureaucracy which consumes time and money. Also transactions are P2P meaning there are no intermediaries who can delay them asking for certain approval from the entities and the barriers between financial systems of different countries is taken down. Even more there is no need to pay for the service anymore to financial institutions that are expensive and time consuming.
5. Reduced cost:
As mentioned before, blockchain technology cuts middlemen and unnecessary and expensive bureaucracy due to smart-contracts. And by saving time this can impact on cost too, for example in logistics if a ship stays more hours or days anchored due to paperwork or pending transaction at old financial system will result in extra cost which reduces earn margins.