I’m trying to figure out the REAL value of blockchain. For example creating social network on BC is totally useless, BC for cryptocurrency is the REAL value
Can someone explain what’s the real value, why would I build something on BC except for “decentralization”. If I can build something with other technology why would I use BC.
Please help me see the value in BC because I still don’t see it
The problem is that the things around blockchain technologies are very dramatized because of commercial purposes. A lot of business attracts a lot of people by just using this word and it looks like blockchain is all in one magic thing, while in reality, it's not like that.
Blockchain is a decentralized system that is used to record transactions across many computers. It's secured from Cyber attacks and equipment destroy because stored data is available worldwide on a lot of computers and isn't stored on a single one. All computers automatically block any attempt that is directed to manipulation with data.
So where can Blockchain Technologies be valuable?
I'll give you one example and that's a land registry, that I'll explain:
The benefits of implementing of blockchain technologies in land title registry are record reliability and a boost of security. BC technologies make registry transactions more accessible, more transparent and much more secure. It's impossible to delete, edit or manipulate with data that's stored on Blockchain. The authenticity of records is verified by the identical hashes available on Blockchain and on a website of land registry (hash is a combination of symbols that are unique for each document).