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Blockchain’s Impact on Our Daily Interactions and Exchanges

Today trust is at the core of many of our daily interactions and exchanges. We put money in the bank because we thought it was safer there. We share information with each other on the basis that you will not share it with third parties without prior consent. You can also get more infomation about blockchain via https://www.supercolony.net/.

We also trust paper scraps – money, land registers, transaction information, etc. But these pieces of paper can easily be stolen, forged, or altered. Today as we move towards computerization of information, data can still be easily hacked and accessed.

Blockchain is a series of records or data distributed over a network of computers so that there is no central computer or database containing information, but each computer contains data, making it a completely transparent system. Why blockchain is so impressive is because of its impenetrable nature.

Each exchange, transaction, or record entered into a database is tagged and verified by a large group of trusted computers before being entered as a block into a chain of various exchanges, transactions, or other records. Once entered, the "block" information cannot be changed or deleted, because it means that the circuit is changed or deleted on all computers at the same time, which is almost impossible.

Property certificates are also vulnerable to fraud and are expensive and time-consuming to administer. Blockchain can be implemented to digitize lands and farmers will no longer be afraid of someone hacking the database and committing land ownership fraud as all types of records become more efficient.