Blockchain technology has the potential to transform many industries by making processes more democratic, secure, transparent, and efficient. Here are 5 key Blockchain benefits.
Blockchain data is complete, consistent, timely, accurate, and widely available.
Two parties can make a financial or other exchange without the oversight of a third party.
Users can trust that transactions will be executed exactly as the protocol requires, removing the need for a trusted third party.
Any data that is recorded on a Blockchain can be tracked in real-time, leaving a very detailed audit trail.
Transactions can be done in minutes or seconds, while currently settlements can take up to a week.