Blockchain | Benefits and disadvantages of Blockchain

Blockchain is a very interesting technology and some people call it technology that will revolutionize the internet. Everything that is created must have an excess of lack of funds, Blockchain also has advantages and disadvantages that are noteworthy if you want to use or invest in the scope of this technology.

Here are some of the disadvantages and benefits of Blockchain technology that you should know.

Blockchain technology is the technology that has flexibility so that this technology can be adapted to various sectors to overcome future weaknesses.

Decentralization. This First is the main feature of the blockchain, this feature can automatically process transactions or validation without human intervention or third parties and cannot be controlled by any authority. Even so, the anonymity feature of this technology can be used by perpetrators of crime because it is difficult to trace

Automation, with this feature many processes can be done automatically such as verification and audit processes. the disadvantage of this feature is that if the process has been verified it is not a cancellation option.

Because it is completely automated, many people worry that many jobs will be lost in the future. However, because the blockchain technology is still new and has not been explored so much, this technology will create new jobs in the future.

Another concern that many people feel about this technology is that it can cause some traditional jobs to be hampered, even though there will be many new job careers created because the use of this technology is very broad.

 Blockchain technology has an environmental impact. Cryptocurrency is an implementation of the blockchain, some cryptocurrency like Bitcoin (BTC) is required to do mining (one of the blockchain processes) to validate or get bitcoin. Crypto mining activities require a large amount of electricity and the impact of using a lot of electricity can produce a large carbon footprint.

There are still many people who are the pros and cons of blockchain because of the impact it produces. Even so, experts continue to try to make this technology more efficient and can be integrated with the environment.

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Blockchain | Benefits and disadvantages of Blockchain Blockchain | Benefits and disadvantages of Blockchain Reviewed by sheffter on July 03, 2019 Rating: 5

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