Bitcoin,s Importance For Your Business

There is a constant battle between legitimate businesses and criminals, each one is trying to leapfrog the other’s technology. Bitcoin is useful for criminals and people involved with them than ledgitimate businesses.

Importance of Bitcoin:-
1: Blockchain computing technology:- Instead of this negative charater, bitcoin is important because of the blockchain computing technology. Its effect is similar to the internet’s effect on traditional computer networks where pre-internet networks had a central hub with spokes that communicated only through the hub, the internet allows every node on a network to communicate directly with every other node. That change is profound.
2: Trustworthy Records :-
Blockchain computing is a system having securely an entire set of records within it, referred to as blocks. Its uniqueness is that copies of the entire system can be kept simultaneously on millions of computers located anywhere. It allows information to reside on million systems, at the same time. On a new entry, the entire system updates in every location, instantly. Anyone can add a new record to the system but If one wants to change an old record, he ,d require the consent of every computer having data, it’s virtually impossible. It means that the records are completely trustworthy and safe.
3: Easy Access:-
With the help of this blockchain, it is very easy and comfortable to send and receive money from strangers and do many other things instead of an intermediaries like banks, insurance companies, property title companies, traders.
e.g. A company issues stock for the first time. It records not only the stock on the blockchain but each owner of every share along with every price paid and purchaser,s and seller,s entry in the case of purchasing and selling shares in the company.
4: No intermediaries involved:- This blockchain execute automatically and involves no broker, no NASDAQ, no New York Stock Exchange, no intermediaries of any kind. Everything ,d be done peer-to-peer.
5: Gauranted things can be purchased and sold:-
Through the this blockchain, everyone in the world can purchase and sell authenticated anything like car’s component parts, medicine,vegetables etc etc.
6: The blockchain practically can’t be hacked. The system rejects one computer’s blockchain updates which are being hacked because the records on all many computers having same information are interlocked.There is the only way ,d be through which the system of blockchain can be hacked if all the system locations in the world, possibly located on millions or billions of computers, are hacked at the same time.It’s possible in theory but away from the realty because it’s never been done and no one knows if it can.
7: Its authentication possibilities have no boudries.It can store data, contracts, identities, It will reduce the power of all verifying institutions, organizations and intermediaries and the government.
Its importance can be understood from John Lennon's song Imagine,
“Imagine there’s no countries, it isn’t hard to do.” It’s still hard to imagine no countries but so many changes are coming with the implementation of blockchain computing, anything is possible. [Source](https://www.forbes.com/sites/richardkestenbaum/2017/03/14/why-bitcoin-is-important-for-your-business/#595a2e4a41b5