• Incorruptible
It is important to understand that the HASH of the current block in the chain relies on the HASH of the previous block as a starting point. This makes corruption of the data impossible, as any change to an earlier block will corrupt the data in the following blocks, thereby resulting in expulsion from the network. In the case of a network like DASH this would have a real-world impact as the node operator would lose all the DASH they have staked to be a master node.
• Auditable
The records of a BLOCKCHAIN are “cast in stone”. Once a block has been updated, there is no going back. No credits. The implications of this are undeniable. No longer will anyone be able to alter records once they have been updated to the BLOCKCHAIN. All contra transactions that are made are public, no secrets. If there is nothing hide, then this should not perturb users.
• Automated
SMART contracts allow for the automation of tasks whether they be simple or complicated. If the parameters are met, then the contract is executed. If someone owes you money and they agree to pay when their balance is sufficient, a SMART contract will make that happen, no matter what!
• Best use of resources
Although BLOCKCHAIN 1.0 (Bitcoin) has become resource intensive, BLOCKCHAIN 3.0 promises to be anything but. The current development taking place with projects like GOLEM (GNT) are going to change the way the world works, literally. Through the power of this technology everyone will have access to a supercomputer. The resources of computers in the WEST will be available to a DTP operator in Mumbai as he renders images or videos in his 3rd world abode. The potential to change lives is truly mind blowing.
• Consensus management
The autocratic power structures that exists today are under threat. True consensus management will come to the fore. In the past ANARCHY has been a dirty word, but no longer. The true meaning of ANARCHY will become known to the masses and they will embrace it as liberation from the power structures of governments and financial institutions that have held the populous hostage for the last 80 -90 years. The true meaning of FREEDOM will become realised.
• Secure
Through decentralisation BLOCKCHAIN allows us to split data into many, many parts. SIA (SC) has done great work in this area. They have recently launched their video streaming facility. In theory as technology improves our web experience should be vastly better. Rather than receiving 1Gb from 1 server farm, through this technology we will receive 1Mb from 1000 servers concurrently.
• The future
In short, BLOCKCHAIN has possibilities that we have yet to dream of. Recently I read an interesting article (https://www.technologyreview.com/s/611022/if-quantum-computers-threaten-blockchains-quantum-blockchains-could-be-the-defense/) which talks about how quantum computing will make current CRYPTOGRAPHY redundant. However, don’t fear, QUANTUM CRYPTOGRAPHY is on the cards.
The power of the human brain seems limitless, we are the real AI!