Blockchain Technology as we know is a new disruptor in the Technology arena. Globally Blockchain technology has remained in news since it has been introduced. Though it was the cryptocurrency where the technology has been used first; however,  its use cases are not limited to cryptocurrency only. Cryptography is one of the features of Blockchain used in Cryptocurrency. 

There are other remarkable features that make Blockchain so popular and work for our benefits. Let’s get aware of the benefits Blockchain Technology brings to us.

1. Security at its best: Blockchain Technology ensures your data and transactions remain end-to-end encrypted and  there can’t be any alterations. It prevents any potential fraud and thus ensures an intensified security system.

2. An immediate traceability : Blockchain is a technology where each and every action leaves its trail. Every time we enter a data or do any sort of transaction, the date and time get stamped. We can trace the journey  of every data on all the steps it has been through. The audit becomes easy and the traceability is instant.

3. Higher transparency: Using a DLT  ( Distributed Ledger Transactions) application system the Blockchain Technology keeps the data recorded at multiple locations instantly and identically. These data are immutable and date and time stamped, leaving no room for bias. 

4. Automation: The Smart Contract feature of Blockchain has introduced a self reliant system where the verification of contract terms need no human intervention or any third party. It’s a highly automated process. 

5. Enhanced Speed and Efficiency: It cuts down the usage of multiple ledger reconciliation, saving us the time. The settlement and clearing becomes fast paced and quite efficient.