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Business Value of Blockchain

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Business Value of Blockchain
  • From a business standpoint, a blockchain can be defined as a platform where peers exchange value / electronic cash without the need for a centrally-trusted arbitrator.

  • For example, for cash transfers, banks act as a trusted third party. In financial trading, a central clearinghouse serves as an arbitrator between two trading parties.

  • Disintermediation allows blockchain to be a decentralized consensus mechanism where no single authority is in charge of the database.

  • Decentralization provides quicker transaction speeds, cost savings, and greater trust.

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