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Referencing the Learning
Week 2: Problems Solved
The blockchain technology has played an essential role in the processes of availing solutions to
the challenges of dishonesty that were prevalent in the traditional systems of data storage and
financial transactions. The present day technological environment is characterized with
tokenized economies that call for effective decentralization of user data and transparency to reap
optimal benefits. Crosby et al. (71) explain that the blockchain system fosters the issues of
integrity and transparency among its users through its inherent capabilities to incorporate
distributed databases which allow all users to access data in the real time and also make joint
decisions concerning the pieces of information that will be allowed into the system.
Similarly, the blockchain framework makes it difficult for users to alter the pieces of
information stored in the system after it is input. On the other hand, sophisticated computing
potency is needed to pull down a blockchain system. Such levels of transparency greatly explain
why it has been adopted in sensitive platforms such as the financial industry. While the
traditional transactions greatly depend on the availability of third party stakeholders such as
banks and e-transfer agents, the adoption of blockchain novelties has greatly limited the need to
incorporate such agencies.
Week 2: Whose Problem is it?
The blockchain system is a great problem to policy makers and its users across the globe. Crosby
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