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  • Category: Miscellaneous

    Discuss in brief the importance and benefits of blockchain in various industries

    Hello members, blockchain is an interesting technology, which has the potential to bring about massive change in the way income is distributed or divided in our country. How do you think could it enable the small scale industries and other under developed sectors of our economy to grow. Do you think this technology can make universal basic income a reality?
  • #709715
    Blockchain is designed in such a way once a piece of information is added to the system it is impossible to change the information entered. It is difficult to hack the information or it is not possible to cheat the people by changing the information here. Blockchain is something like a ledger on the system. Distributed Ledger technology is used in this and once you make an entry in this su=ystem a notification will go toa ll the users of this technology. In this technology, This system is supposed to control all frauds in the financial sector. Blockchains like Bitcoin and Ethereum are growing as blocks are being added to the chain.
    drrao
    always confident

  • #709716
    To be frank I am coming across this block chain system for the first time being discussed in this page and I want to know more about it as other members respond.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #709734
    Nice thread for discussion given by the author. Block chain technology is an adjustment of different technologies, including cryptography of the Internet, ie keeping information secret and controlling protocols. So it is not possible to hack it. The direct transaction process will make the transaction quick, transparent and easy. It is impossible to manipulate the data once it is collected. Hence it is devoid of external side effects. The wider informal sector can be made part of the formal economy. Block chain is considered a revolutionary technology for the future economy. Block chain technology has the potential to impact the economy around the world and almost all the major central banks of the world are researching it. In current contexts, block chain technology can prove to be a game changer, provided its importance and capabilities are identified in time and concerns are addressed and work is done to resolve it.
    Swati Sharma

    Keep your Face to the SunShine


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