Blockchain and trust

[wildflower18]

smart contracts are something that has already begun to change the modern business. This technology has allowed to increase the reliability of transactions many times over. It's amazing.

Yes with the smart contracts it is already good its flow of this kind of business. By having transparent its transactions in this blockchain technology will creates more trust in this business. The way we see others users has good feedback on blockchain technology will proves it has good usage and it reduces risks in the business.

[crypto_world]

blockchain reduce business  risk and appliable only for determine kind or applications. The central part of which is a contract. For all kind of contracts blockchain is the best.

[Rupcrypto]

Blockchain can increase the transparency between enterprises.blockchain is an opportunity to who the people have knowledge about Crypto currency.

[Stigmuu]

How can blockchain reduce business risks and increase trust

in my opinion maybe nowadays technology is in control of the transaction that makes it transparent to the investor and blockchain is using that kind of technology

[Rhaizan]

How can blockchain reduce business risks and increase trust

Blockchain has a transparent system in the transaction, with the smart contracts it can be increased the trust through of them.
We see the good feed back of had a transparency transaction system with the blockchain technology will produce good business and trust.

[Dutchyyy]

How can blockchain reduce business risks and increase trust

When both sides can't forge the data (written into blocks), then trust is not an issue. If you are enough open minded to accept it .
It much more secure than any of current ledgers.

[vikl56]

The blockchain was originally designed to solve the trust problem of reaching a consensus between mutually untrusted nodes.
Because the data in the case where the blockchains are all realized by strangers and anonymity is officially trusted, it cannot be tampered with. The blockchain has value, and the blockchain is born!
How to solve it, this is a very complicated issue. In simple terms, everyone operates according to the code, which first avoids some of the risks and is also a prerequisite for all trust. Then, in terms of data fraud, various consensus mechanisms have different tolerances for evil nodes. Like Bitcoin's POW mechanism, it requires more than 51% of the calculation power to tamper with. As for POS, it requires a lot of tokens. The PBFT, which is commonly used in the alliance chain, needs to control more than one-third of the nodes. When choosing different consensus mechanisms, you need to take into account various requirements such as eventual consistency and accuracy.
As for asymmetric encryption algorithms, they should all be pretty much the same. You can study the public-private key signature system and the current elliptic curve encryption algorithms. Of course, there are more advanced grid cipher encryption algorithms with anti-quantum and full-homomorphic encryption.

[AssassinCreed]

First of all, the blockchain transaction is transparent. This allows me to understand more clearly the time and amount of each transaction. Through smart contracts to increase its trust, they eliminate the need for intermediaries, thereby reducing the risk and increasing the Trust.

[Emilyearl]

With the blockchain, transactions are secure and transparent. Smart contract ensures trust as it's triggered once the contract terms is met and if the terms are not met, then the contract doesn't execute. So with this approach, trust is ensured.

[richjohn]

If you ever open block explorer, you would see that every single transaction is available for viewing in the form of ledger. You can track movement of funds and see coins went from which address to which address. This helps in reducing scams since movements are being tracked and person would be traced by this. So blockchain brings in more trust.