Advantages of blockchain on cryptocurrency

Bitcoin and blockchain are two systems that were designed to support each other. A blockchain is a virtual form of the public ledger where everything is recorded in a discreet manner. It allows a free transfer of cryptocurrency to the user with the help of a decentralized environment. All the data is then held in an interlinked network of computers, owned and run by none other than the users themselves.

There can be numerous advantages of the blockchain in cryptocurrency. The advantages are large which ensure its effectiveness in the coming years. Here are some major advantages of the blockchain on cryptocurrency:-

1. Supply chain management

The blockchain gives security and cost-effectiveness for the supply chain management. This has taken the B2B environment to another level as it has made the process transparent. It has simplified the processes such as ownership transfer, production process assurance, and payments.

2. Quality assurance

As the name suggests it ensures the quality of the supply chain management. Any irregularity present in the system will lead you to the bottom to its origin.

3. Accounting.

Trusting handwritten records in not more reliable nowadays. There are possibilities of manual error. Accounting via blockchain makes the process tampering free and eliminates the manual error.

The list of the benefits is endless. These were the major benefits of the blockchain technology on the cryptocurrency.
What according to you are the other major advantages of blockchain on cryptocurrency?
Do you think are there any disadvantages of it as well?

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