How Will Blockchain Technology Drive Automation of Everyday Jobs?

How will blockchain technology drive automation of everyday jobs?

The blockchain is the future and has unlimited use cases….whether we talk about agriculture, education, Healthcare or loans.Linking a video which will clear all your doubts regarding the blockchain tech and providing a whole lot of information:Please watch it…worth seeingAs a blockchain Enthusiast and being a crypto guy. . it's great how he explains the blockchain Tech and discussing how blockchain can transform India

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The dark side of Blockchain Technology

So in this blog, I will try to focus your attention towards the dark and unknown side of blockchain technology. So before coming to the topic, what is Blockchain?What is Blockchain?A blockchain is a time-stamped series of immutable records. It is not owned by a single entity. It is managed by groups of computer.Each of these blocks of data is secured and bound to each other using cryptographic principles. The unknown side of BlockchainBlockchain technology is anonymous, distributed, permanent, and so due to these qualities its highly secure. But these qualities are also the source for blockchain greatest weaknesses, and so we should be cautious before this technology gains its popularity.Blockchain has a lot of advantages, but sometimes these can be misused in ways that no one would have thought and internet is one such example. The Internet created the information highway, revolutionized business operations fueled new economies etc. Due to this Internet has transformed from asset to liability. Coming back to the topic, blockchain has revolutionize the business world, provide transparency and accountability,harmonization, eliminate fraud and SO MUCH MORE under the umbrella of trust.But as we know that for every good there could be a bad and that holds true for blockchain. Blockchain itself might be secure, but the use of the blockchain is where all of these weaknesses come through. "Here are three blockchain advantages, and the risks that go with them.DistributedDecentralization is one of the important feature of blockchain. It does not have a central database. Instead, it's run on millions of servers. If one of them stops, the others keep running.But a lack of an on/off switch can cause problems. According to sources, in 2017, hackers found a coding flaw in the Ethereum blockchain platform, and used it to siphon away millions of dollars. But, white-hat hackers used the same coding bug to steal the remaining money faster than the criminals, and redistribute it.So, because the software that drives blockchain is publicly available, someone with wrong intentions might exploit a software flaw they find before anyone else notices and fixes it.AnonymityAccessing a blockchain account requires a key. This key is a long combination of numbers and letters and is nearly impossible to guess. The key is also anonymized, so no one knows the identity of the key holder and if someone loses their blockchain key, that account can never be accessed again.ImmutabilityWhile immutability is one of the best-selling features of blockchain, it may also be its one of the disadvantage. Why? Because no entry on the blockchain can be deleted or changed. But why this is Bad? Just remember that humans are still behind the blockchain and they can do mistakes. What happens if a transaction is entered incorrectly either intentionally or unintentionally, can it be corrected? Answers can be both Yes AND No. YES, technically, based on the ground-breaking research, the main key holder can edit the original entry.And, NO, there will ALWAYS remain the immutable scar containing the erroneous information after the original entry is edited. It will live on the blockchain forever.If you have carefully read all the three scenarios, you will understand that the blockchain technology's security did not fail but the humans did, and internet is one such example. ConclusionAs a believer in blockchain, we need innovators, tech gurus, experts and regulators to assume their responsibility and address these ethical challenges now. Since we are all very committed to advocating blockchain for everyone, should we not be just as committed to safeguarding the integrity of its core principle: "In blockchain we trust."So in this blog I am not trying to diminish the fact that these are great advantages, it's just that these advantages have consequences as well. These are all great things but also be aware of the ways in which they could be abused