Tech Discovery: Blockchain IV

Internal Advantages of Blockchain
Decentralization

Companies spend billions of dollars annually trying to secure centralized datacenters, which have famously been compromised in numerous and costly incidents.

The decentralized security model provided by Blockchain is less expensive and more balanced than the centralized database model.
Emergent trust

There is a growing lack of trust in both financial and non-financial services, greatly exacerbated in the aftermath of the 2008 global financial crisis.

The Blockchain quantifies trust and uses computing to bring people together.
Automation

Business processes, like ledges and exchanges, are based on non-secure and inefficient media like spreadsheets or paper. These processes are slow, outdated and difficult to audit.

Smart contracts – self-executable agreements of business logic – are groundbreaking when used together with Blockchain transparency and decentralization.
External Advantages of Blockchain

Immutability

Records and data can be forged, deleted, hidden or even altered by bad actors with nefarious intentions.

The Blockchain is completely immutable, so once a transaction has been timestamped and recorded, it cannot be un-done.
Openness

Security issues may prevent many services from going public, even though adoption rate is one of key marks of success for any public service.

Blockchain is easily accessible for software developers because it is based on mathematics rather than trust in a third party.