RE: Steemit Crypto Academy Contest / S4W3 - Understanding Blockchain Technology In Business And Finance
nodes that work all time because a fault in one of the nodes will not affect the entire system
Yes the Byzanthune fault tolerance of blockchain makee it suitable for 24x7 service in finance and other sectors .
business data that can be destroyed anytime, maybe by mistake or intentionally. With blockchain, such things can not happen.
That's true . Besides storage the known non editable feature of blockchain after storage of records makes it more suitable for a record Keeping especially in departments like revenue where tons of records are maintained offline and it takes hours to search for any particular record.
fake transactions and there is a quick trade settlement with cryptocurrency payment and at no stress and no server failure.
That's correct. Our traditional finance lacks many of these features even now . So crypos would boost Bussiness .
You are right, many department that usually keep records offline should adopt the use of blockchain for their data storage, which would save them the time and stress of searching for the said record for hours.
Thank you for engaging in my post.