Pros and Cons of Blockchain Technology

edited May 6 in General

PROS
- 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
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CONS
- 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.

SOURCE: https://cryptodaily.co.uk/2019/05/blockchain-technology-pros-and-cons

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