Pros and Cons of Blockchain Technology
- Decentralisation: Can help automate endless processes without the intervention of a human or a physical computer.
- Automation: Is able to automate many processes, such as financial transactions
- Environmental Impact: Major drawback. Cryptocurrency mining (one of blockchains many processes) is very power heavy and uses very powerful computers to calculate tasks.
Lastly, Division, both a pro and a con combined. A drawback as it causes conflict and tension. An advantage as nurturing a healthy competition that is leading to innovation.