Crypto Academy Week 6 - Assignment posting for @gbenga/ The blockchain in industry by @worshipday.
Hi teacher @gbenga I hope you are well thank you for such great teaching this week it is very good and encouraging here is my homework.
The blockchain What is an algorithmically coded program to create automated processes with unique number and record them in each block which is a time chain. Below I will show you the benefits this Leaves to the global industry now in 2021.
|Tracking of immutable transactions without a third party.|
Fuente de la imagen a la derecha
The blockchain is an open book that can be read by anyone in the world, the only thing you must have is the knowledge of what each data exposed by the blockchain means in each block to understand it, understanding this the blockchain allows us to enter the block we are looking for Search the transaction Search if it was sent if the sender made the transaction And if the receiver confirmed it we can see if it was settled without any third party and no third party puts us the limitation of observing our transaction.
Blockchain technology has brought us transparency in global transactions.
This prevents the human characteristic of being wrong from being left out and technological perfection takes its course. This makes each number immutable and not wrong so that each crypto transaction number in each block is linked to the next one, which makes all the blocks linked together so that there is only one open ledger and not many in order to be more organized.
The blockchain provides the improvement of never making mistakes in transactions.
The blockchain contains constant permission requests for transaction movements, which automates approvals and transactions within the platform. In traditional commerce where there are internal communications within the company, a lot of time is wasted waiting for the approval of many actions that you want to do, the blockchain provides automation through smart contracts by complying with the requirements of the contract to approve them.
automate almost all industrial processes and avoids wasting time.
The blockchain has the feature of reputational voting then another feature is that it would help too much in the choice of decisions within many companies within many governments and many organizations being able to conclude with the most voted actions to execute them since the blockchain has the feature of immutable trust where no vote can be edited.
It can improve decision making with democratic characteristics.
Globalization is a booming aspect of humanity which its characteristic in bringing everyone to the same generalized equal of this we could talk about the blockchain because it is a global tool that allows us to send money from equal to equal with so many good and improved features of traditional trade this will affect the industry and not only the industry, also normal aspects of human beings Why a blockchain can be used even in a food shopping center to record what time the food left at what time the food arrived where the food goes to record whether the sender sent what he was going to send and the receiver received what was sent. It is very good to use blockchain to transfer data to the other side of the world in a matter of seconds, it is very practical, easy and simple.
It will make all processes very easy, intuitive and not very difficult.
Thank you for your attention, I look forward to your approval!