And while some people are still skeptical about it, others are tapping into its potential right now.

Well I still don’t know what others are skeptical about the blockchain. Everything that is good about the blockchain can be seen in its use cases. I know there are disadvantages but the advantages out way them.

Reduce human error

Yes apart from the eviction of third parties, one other nice thing is that since we all know that transaction once confirmed can’t be reversed, people will be more careful to make sure they don’t make mistakes.

Waste of energy

The problem with this is that the blockchain doesn’t actually use this energy. It is because miners use high and efficient computers that need to solve algorithms as fast as possible and as we know it this high and efficient computers spend a lot of energy to do that . And since they are always confirming nodes it means that a lot and lot of electricity is consumed.