Blockchain technology, advantages and benefits

[owmivmen]

The question "Blockchain technology is needed?"  Give the real things you get about blockchain technology.

[ZionRTZ]

Most would simply say blockchain technology is needed because it makes crypto more popular and the more famous crypto gets, the price gets pumped usually. In my case, I would say logistics. It's easier to track inventory/product movements with less paper works. It also saves a lot of time and money.

[owmivmen]

I would say logistics. It's easier to track inventory/product movements with less paper works. It also saves a lot of time and money.

yes, the real case that I found in the logistics case.  Paper reduction is very good for protecting the environment and the earth.  in the future, the government will see the blockchain to be used and is very helpful.

[Zed0X]

I came across this article today and it's a discussion about integrating blockchain technology into the customs department of different countries and their respective border agencies. This is a big step in the right direction in my opinion. The report was written last year and it's quite long but I'll attach the link to the research paper if you are interested in reading it.

Here's the conclusion:

A conclusion that has been reached after discussion is that Customs would be able to have a broader and clearer picture of international trade particularly in terms of the movement of cargoes and consignments as being tied with the flow of capital. With blockchain-based applications, therefore, Customs could become a full-fledged border regulator with greater capabilities in the future.

[Istiak]

Earth's's economy is heading towards cashless economy. People are using online as their daily work and other purpose. The use of cash is becoming difficult for online shopping. That's why crypto is becoming very popular among the people because you can use it from any where and its very secure. And as long as crypto is growing Blockchain tech will be needed.

[Noverteno]

Blockchain technology is not only used in cryptocurrency. Of course, its use is associated with the global Internet. However, this technology can be applied wherever it is necessary to safely store and use online large databases of various information.

[Bram Manis]

The benefits of Blockchain technology are numerous. Like:

1. Faster transactions
If the Bank transaction is longer, but Blockchain technology can reduce the transaction time. It can even be in minutes.
 
2. Lower transaction fees
Eliminating intermediaries and third-party charges for exchanging assets, the blockchain could potentially reduce transaction costs. It will surely help you every transaction with low cost and fast transactions.