Our team is considering the benefits of implementing blockchain for user privacy in the context of our application connecting people together locally. Blockchain has been subject to a huge amount of excitement in the spheres of business and technology in recent years. This highly cited book, summarizes this feeling, and the roots of the technology:
“We may be at the dawn of a new revolution. This revolution started with a new fringe economy on the Internet, an alternative currency called Bitcoin that was issued and backed not by a central authority, but by automated consensus among networked users.”
Melanie Swan, Blockchain: Blueprint for a new economy
'#Blockchain=the great chain of being sure' #cryptochicks @crypto_chicks @trivial_co pic.twitter.com/7XhCKzunvy
— Katarzyna Kaminska (@KataKaminska) April 7, 2018
This tweet from the 2018 #CryptoChicks Conference + Hackathon summarises the (general) benefits, which have been highlighted from using this technology:
- Security
- Privacy
- Enhanced User Validation
- Lower Transaction Costs
- Transparency
- Streamlined Administrative Processes
- User Empowerment
- Reliability
- Faster Transactions