9 Benefits of Blockchain Technology

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http://blog.triv.co.id/wp-content/uploads/2016/08/Untitled.jpg ### 1. Disintermediation
Two parties can exchange without supervision or intermediation from third parties, greatly reducing or even eliminating counterparty risks (third parties or participants, whether banks or customers, with whom financial transactions are made, or parties that conduct financial transactions). ### 2. Users are authorized
Users are in control of all their information and transactions. ### 3. High quality data
Blockchain data is complete, consistent, timely, accurate and widely available. ### 4. Durability, reliability and longevity
Because of the decentralized network, the blockchain has no center of failure and is better able to withstand any dangerous attacks. ### 5. Process with integrity
Users can trust that the transaction will be carried out exactly as a protocol command and eliminate the need for third parties. ### 6. Transparent and immutability
Changes to public blockchains can be seen openly by all parties who create transparency, and all transactions that cannot be changed, which means they cannot be changed or deleted. ### 7. Simplifying ecosystems
With all transactions added to Ledger's single public single / ledger public, it reduces chaos and complications from several ledgers. ### 8. 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 be processed 24/7. ### 9. Lower transaction costs
By eliminating third-party intermediaries and overhead costs for exchanging assets, the blockchain has the potential to reduce transaction costs.

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