Blockchain technology has made it easier for businesses to do business together because it has dramatically simplified the production process. Is it really great for businesses in the long run?
I think yes. Blockchain tecnology give benefit
1. Transparent and immutability. Public blockchains can be seen openly by all parties who create transparency, and all transactions that cannot change.
2. Faster transactions. Interbank transactions can potentially take up to several days for clearing and final settlement, especially outside working hours.
However, Blockchain transactions can reduce transaction time in minutes and are processed 24/7.
3. Lower transaction costs. By eliminating third party intermediaries and overhead costs for exchanging assets, the blockchain has the potential to reduce
transaction costs.
There are many benefits, and blockchain is an open technology. If there are weaknesses can be fixed.
Blockchain technology really helps so many businesses in making business together. tThrough bitcoins buyers have completed their payments without accessing any sensitive financial information to the seller.
With this, they are enjoying a certain degree of financial privacy that is most neglected by many credit card offers. Production processes through blockchain technology has been easier and faster to many people.