Blockchain applications

Benefits Why do we need Blockchain?

Resilience Blockchains is often replicated architecture. The chain is still operated by most nodes in the event of a massive attack against the system.
Transparency Changes to public blockchains are publicly viewable to everyone. This offers greater transparency, and all transactions are immutable.
Time reduction In the financial industry, blockchain can play a vital role by allowing the quicker settlement of trades as it does not need a lengthy process of verification, settlement, and clearance because a single version of agreed-upon data of the shared ledger is available between all stock.

Fraud prevention The concepts of shared information and consensus prevent possible losses due to fraud or embezzlement. In logistics-based industries, blockchain as a monitoring mechanism act to reduce costs.
Reliability Blockchain certifies and verifies the identities of the interested parties. This removes double records, reducing rates and accelerates transactions.

Security Attacking a traditional database is the bringing down of a specific target. With the help of Distributed Ledger Technology, each party holds a copy of the original chain, so the system remains operative, even the large number of other nodes fall.
Collaboration Allows parties to transact directly with each other without the need for mediating third parties.
Unchangeable transactions By registering transactions in chronological order, Blockchain certifies the inalterability, of all operations which means when any new block has been added to the chain of ledgers, it cannot be removed or modified.