Steemit Crypto Academy Contest / S2W3 - Blockchain in our lives. by @badmus-official

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Hello everyone, How are you doing?, today, I welcome you all to the crypto academy engagement challenge for week 3, where we get to discuss the impact of Blockchain in our lives.

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Blockchain is changing everyday life for everyone, what is your opinion on the matter?

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We all hear the word "cryptocurrency", but what really makes cryptocurrency a currency is the ability of it to be a coin built on a blockchain, A blockchain is more of a ledger, but in this case, it is an online ledger rather, it is transparent, meaning it couldn't be tampered with, everyone can see what's going on the blockchain, whereby it makes cheating the system impossible.

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The Blockchain can compare to the normal banking method ledger, just that the difference is the physical and online dissimilarities between them, in the normal method of keeping records, users need to fetch a file and have their records or data pulled from it, but in the blockchain, this is not necessarily as it safely stored on the online ledger instead.

Blockchain technology comes with ease, it is a technology that was first experienced in 2009 during the introduction of bitcoin, it was a fast-growing technology extending to every part of the world, and it brings transparency, flexibility, and good user experience.

There is no way the cryptocurrency could have been a cryptocurrency without the blockchain technology, the blockchain technology brings total annonimity between the user and the owner business, makes transactions smoothly, and bring an interesting experience for users who preferred to be anonymous.

My Opinion On Blockchain - The blockchain technology experience is really interesting, it is quite a thing we experience on steemit where all users are given the power to write however they see fit, it gives users full control over their account and however how they see fit to it.

Blockchain experience has been superb in the past days, and its technology keeps evolving over days, blockchain was the first to introduce the idea of making transactions without charges, so with this, it is extremely interesting and everyone will want to get on it. the programming aspect of blockchain is also an interesting one, full control to users, they get to move their funds however they see fit, there is total freedom on users' funds, and it is extremely secured as well making it almost impossible to hack.

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What are the main advantages and disadvantages, of adopting the use of blockchain in everyday life?

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Blochcian is really advantageous in human life so far, it has brought a lot of interesting experiences to the point that other Traditional banking as well is thinking of implementing or adopting some of the blockchain technology experiences.

• PROS

Fast Transaction - Blockchain technology files are online, so in this case, assuming a user wants to make payment to other users, it doesn't necessarily need to fetch data out from a desk or ask another user for their information, in the case of Blockchain, the files are online, and they are easily reached, so in this case, users access whatever information needs at ease, and transactions can be made as fast as possible.

No Third-party Authority - This also makes blockchain technology interesting, the idea of making payments to other users without being watched or requesting the management authority is classy, so in this case, no one needed to trace or monitor how one spent or however they see fit with their money, but since its a self-control system, users get to make whatever amount of transactions as they see fit without being watched or traced.

Smart Contract - Blockchain technology uses smart contracts, meaning the transactions are autonomous and easy, so in this case, things get to be easier and faster, and as straightforward as possible.

Flexible - What also makes Blockchain technology interesting is its flexibility be to all networks, in a case where users try sending money overseas or abroad, the blockchain technology is the same all over the world, so in this case, users get to make transactions from one exchanges to the other, its the same blockchain technology, unlike in the traditional banking system where a user is limited to their bank scope, but in the case of blockchain, it is the same all over the world, and it is very flexible for other exchange as well.

• CONS

Cyber Crime - The power of annonimity in the blockchain makes cybercrime easy, although the transaction is visible, and everyone can see what address sent or receive the payment, it is still impossible to trace to the owners, so in this case, many crimes could be committed without any exchange or any third party has the power to withhold the transaction or trace it back to whoever made the transaction and to whom it was being made to.

Irreversible - Blockchain technology is widely evolving, and it is a no-go area for users who are just starting the cryptocurrency program, the blockchain information is being kept online, and no one has central authority over any users fund, this is the disadvantage that comes with it, as a situation where users mistakenly or wrongfully sent to a wrong address or mistaken an address word, it is irreversible and the coin keeps flowing without anyone having the power or access to claim it.

Price Fluctuation - Blockchain technology brings the idea of investment in cryptocurrency, where users all over the world made investments to some blockchain projects, whereby users invest in coins and hope it rises in the future, but the idea of blockchain for investment is not totally safe, the price of blockchain asses fluctuate time to time, it might rise or fall, because most projects are not built on a solid project, there is no serious business mindset within it, so everyone wants to make a profit and take off, whereby there get to be sellers and buyers keeping the asset in shape, this is one of the down parts of blockchains.

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Discuss the future of blockchain, and how this technology is impacting the world.

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Blockchain is evolving great from time to time, here are some of the impacts of blockchain on the world at large.

Generally Acceptable - Without blockchain, it wouldn't have been possible to make transaction across the globe, for example, the traditional method of banking doesn't accept the same currency exchange, where users from Nigeria has to convert their assets to Dollars before making transaction to someone in the United States, but blockchain makes this easy as it is generally acceptable at the same interest rate, where a user can easily send crypto assets across the world without needing to pass through the conversion process. A user from abroad can easily pay a user in Nigeria in USDT without needing the Currency conversion.

NFTs - We could as well see the mode of business in the blockchain technology through NFTs, whereby, a user can easily create arts, then open it for sales on the NFT marketplace at a certain price, afterward there gets to be a buyer who might be interested in the assets, then he/she can choose to purchase the assets, and as well might feel the need of selling the particular assets at a higher price in the future, this is a new movement and an incredible one at large.

Twitter Votes - We could see the experience of blockchain gradually moving onto Twitter media as well, where users can downvote tweets or replies they don't like, this is an involvement in the blockchain technology as well, and this is happening in the social media as well.

Decentralized Social Media - We could as well see the impact of blockchain in the social media, where users get to be interested in blogging, and as well get the idea of blogging and earning in returns, they could as well socialize with other users all over the world freely without being restricted to one another, for example, the Steemit Platform.

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What is your opinion about the implementation of blockchains in the health sector? Has the implementation been positive or negative? Explain a use case.

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Blockchain is a technology that is moving fast and extending to every sector at large, it is quite easy, flexible, transparent, and convenient.

So the blockchain has been really helpful in the health sector as it makes things to be easy, and almost flexible for users to interact with, the blockchain technology is quite efficient and can be reached at any time possible.

Blockchain is really helpful in the health sector due to its transparency, so in this case, users' health records get to be securely safe on the platform, and all doctors or new sectors get to understand how the last record went and work around it.

With Blockchain impact in health sectors, hospitals get to track records of their patients, and the amount of drugs to be intake by users, where in this case, doctors get to easily pick where the last pill or prescription stopped, as this get to put them on the sidelines, and in this case, there could not be manipulations since they are meant to be automatic, and as well safe for patients.

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Conclusion

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Here is the conclusion of the topic where I have discussed the impact of technology in our lives and in the health sector, and also discuss how blockchain impact is changing life for everyone.

Blockchain is fast approaching, and the technology is fast improving as this allows users all over the world to make transactions with each other without a third party involvement. there are many benefits that come with blockchain technology as it possesses a faster transaction, whereby transactions get to be as fast as possible, and also all records are stored online, and transactions get to be transparent and made public for other users.

The only disadvantage that comes with blockchain technology is its annonimity, where in this case, users get to commit illegal activities without being traced.

Thank You for following up on my post, I invite @jamezmccoy, and @solexybaba to join in the contest as well.