Crypto Academy Week 6 - Homework Post for @gbenga //The Security Benefits of Applying Blockchain Withing any Industry, and the impact of cryptocurrency on the industry

Good day everyone. It's great to be in @cryptoacademy community and I thank them for their awesome ways to see the growth of everyone about cryptocurrency. Professor's like @gbenga are very good and I thank him for his efforts to give sound lectures. Below are my answers to the assignments.

The Security Benefits of Applying Blockchain Within any Industry, and the impact of cryptocurrency on the industry.

The Security Benefits of Blockchain Across Industries
Supply chain management.
Blockchain technologies gives advantages of traceability with effectiveness i.e it's used for the tracking for the flow of goods and quantity. This gives every Industry a relief to transparency. It makes it easier to process production, assurance and payments.

Quality assurance.
Where there's an issue in the supply chain, a blockchain technology could lead you can lead you to the point of origin.

Accounting.
Do you know taking records with blockchain technologies terminates human error and protects the data against theft. Hope you know that records are always checked each time they are sent from one blockchain node to the next. A highly traceable audit trail is needed just showcheck each time it crosses through the node. The integrity of some company’s financial information are also secured secured and transparent.

The Impact Of Cryptocurrency On The Industry.

Cryptocurrency can provide a lot by overcoming the lack of trust by increase to the access of financial services. This supports the growth process in developing countries by providing a better traceability. There's no need for regulations like banks or even the governments. This gives power in the hand of common man ! they can do one-on- one transactions all around the world in split seconds without paying any charge.

Conclusion
Honestly I really learnt alot from the lectures, tho I wasn't able to do much research but I'm sure I said something meaningful...
Thanks for the lessons at Professor @gbenga.

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Hello @cathy14, Thanks for being a part of this week's class. Your post is less than 300 words which means it is not eligible for voting. Posts should be more than 300 words, original, and well organized to be reviewed.

Thanks

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