Blockchain US 𝓒𝓾𝓼𝓽𝓸𝓶𝓮𝓻 Service

Blockchain US 𝓒𝓾𝓼𝓽𝓸𝓶𝓮𝓻 Service — +1 478–304–8289, and 🅲🅻🅸🅲🅺 🅷🅴🆁🅴 in website — https://www.blockchain.com/.

Werbach saw a common thread in these examples of blockchain applications. “Those are a class of use cases that are about overcoming trust gaps, where there isn’t sufficient trust in existing institutions, or existing governments and government agencies,” he said. “Once information is recorded on a shared ledger, blockchain provides a bridge to overcome some of those trust gaps.”

The trust factor in blockchain has its limitations, though. “If someone checks information in incorrectly, the blockchain will report that immutably and verify that that was all checked in, but it doesn’t itself inherently verify the accuracy of the information,” said Werbach. “It’s an infrastructure for trust; not inherently an infrastructure for truth. There are ways to build systems and processes around the implementation to ensure that the information is accurate and truthful, but the blockchain itself does not automatically do that.”

Even as blockchain technology has made inroads into developing countries like India, inadequate digital infrastructure and relatively low financial literacy may be obstacles. However, even more than those, outdated laws and rules are proving to be the biggest impediments to achieving blockchain’s full potential.

Gupta noted that in Chandigarh, for instance, although the state government had done “a great job of digitizing land ownership records,” some of which are tracked to the 17th century, federal rules do not permit those records to be posted online. “You still have to personally visit the title registration office and meet three different people, show the documents and get one signature after another,” she said. “It doesn’t provide room for blockchain to be very efficient. You cannot use a self-sovereign identity (a blockchain-era innovation for online identify verification), an online payment system, or digital signatures for reference checks.”