Importance of Blockchain Technology in our Daily life

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Blockchain is known as a shared ledger which helps to improve and facilitate any kind of transactions made in the network. It is very safe and free from money laundering, because any transaction made in the Blockchain leaves a fraud in the blockchain is less unless you misplaced your keys and left it to the hands of hackers. Block chain is a very safe and decentralized body, which means no one is governing it or is the head which makes it more interesting.

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• Minor fraud rate: The use of block chain has corroborated that fraud rate is minimized. As I said earlier it is not easy for one to get your keys/passwords unless you misplaced them, but still compared to the real world the rate of fraudulent activities that occur in web 0.2 can't occur in web 0.3.
• Visibility of any finance crime: Money laundering is very visible in the blockchain, as any transaction made is left on the database and cannot be deleted, so it is not possible to embezzle money and not leave your trail behind, it is very easy for you to be detected. So it has helped curb money laundering and it is closely not successful in web 3.

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Blockchain technology has been of great importance in our everyday lives and we can testify about it. I will list some of these sectors in which blockchain technology has helped advance.

• In Business : The introduction of block chain has brought about many qualities and improvement in the business sector. And I will list some of these improvements.

Trust- The use of blockchain has led to trust amongst users in the technology.
Improvement in privacy and security- as I said earlier it is very secure to make transactions in the block chain, and the transaction records are not deleted, so any transaction made will be seen in the database, so it brings transparency in business and grows trust.
Swiftness in transactions - It is very fast and reliable, it has reduced queues in banks as people using the blockchain technology make transactions in seconds and it is very reliable.
Immutability- Any record in the blockchain is not easily erasable, as it is easy traceable in the block chain, so in the area of business it will lead to trust and transparency. And also make it easy to notice any fraudulent activities.
Increased privacy and control- It gives users full control over one's data.

In healthcare system: The use of blockchain technology has allowed the storage of the database of many patients