Ask Leo :Does Blockchain have an Influence on Social Impact?

Source
Blockchain a has played numerous role in the development of social impact Blockchain has helped to bring equality and transparency to the social media and cryptocurrency and this has brought relief to the crypto world and social media.
The use of blockchain offers alot of benefits this include the following

• Transparency:transparency and security are some of the most significant factors that have been the secret behind the constant growth of this technology. The implication behind blockchain is to provide a simple, secure, yet traceable way to perform transactions. However, blockchain has been proven useful in more than just financial transactions.
  Blockchain technology can provide better and efficient day-to-day business activities for a different domains, including optimizing the cryptocurrency trade.

• Supply chain management: Blockchain has also provide a supply management chain and that makes Blockchain different,Blockchain technology allows the one to track all types of transactions more securely and transparently.adoption of Blockchain allows companies can trace every transaction carried out right from its point of origin to where the transaction ends

• Digital identity/Personal data protection :as we all no that identity is very important and many social media platform or let me say web2 technology has failed to address is the issues of identity no security to peoples information and datas 🔐 but Blockchain has provided this
  Blockchain enables more secure management and storage of digital identities by providing unified, interoperable, and tamper-proof infrastructure with key benefits to enterprises, users, and IoT management systems.

• Legitimacy :there is no legal owner of the blockchain. And since the software is open source, everybody could clone the network and make changes to it.

• Compliance : also Blockchain has gain straight
  Trough private regulatory compliance, but the Blockchain can also help regulators. This is possible because Blockchain lends itself to the improvement of compliance processes, it can also be used to help compliance officers keep track of the steps required by complex regulations.

• Trust :blockchain has provided a same level platform for every member and with the trust-based, peer-to-peer systems one can deal with a trusted partners trough the peer to peer system

Conclusion

Blockchain has really played an important role and it's influence can not be overemphasized

Thanks for visiting my blog @tobywalter care 💕💞💕💞💕💞💞💞💞💕💞💞💞💞💞💕💞💞

Posted Using LeoFinance ^Beta