Blockchains are not unhackable, but they can be more secure than the way things are done now. Blockchains are made up of a series of immutable records, meaning you can’t go back and change transactions without breaking the chain. This is why banks and governments are turning to them. Shouldn’t you?
Automating transactions across financial institutions via blockchains may revolutionize this industry and greatly improve efficiency and security across the globe. To send money to your family in South America, but avoid the seven-day delay and 20 percent surcharge, use a blockchain for instant transfer to a receiver that can instantly deliver it at far less cost.
Counterfeit and stolen goods lead to lost revenue, but a blockchain can tag products so at purchase their authenticity can be immediately verified. Blockchain can generate complete, immutable, shared end-to-end provenance of any valuable for tracking or regulatory purposes, making it easier to identify fraudulent or stolen goods.
With blockchain technology, create an immutable, secure history of real estate transactions to provide clarity, automation, and built-in documentation―even (especially) for common transactions like renting an apartment! Credit history and payments could be automatically validated, and an electronic key could be used to access the apartment once the lease is validated. Smart contracts can even be used to immediately and automatically set up the water, power, and cable accounts for the new rental.
