Do We Need Blockchain?
Nowadays, blockchain is getting more and more popular in the world. It is getting big issue. Because the world is heading towards the Fourth Industrial Revolution and blockchain has been called a pillar of the Fourth Industrial Revolution. Therefore, we need this new technology. There are so many reasons that we need that. Blockchains are a remarkably transparent and decentralized way of recording lists of transactions. In other world, it’s a new means of transmitting funds and or logging information. There is no doubt that blockchain is future technology.
Enhanced security is provided by blockchain technology because all transactions must be agreed upon before their record. In addition, subsequently after its approval and it is then encrypted and linked to its previous transaction. Thus, the information is stored on multiple servers across a network of computers rather than a single server.
Blockchain technology are improved traceability and reduce costs. In the blockchain ledger, when an exchange of good is recorded on a blockchain, the audit trail tracing where it came from follows. As well, blockchain technology eliminates the necessity for third-parties and unnecessary intermediaries which saves costs and prices for businesses and individuals.
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