For me, Bitcoin has many advantages, one advantage is it gives to the individual money to sustain the basic needs, It also reduce the increasing number of unemployed in some countries, The people who work in bitcoin develops the ability to reason out, enhanced the English proficiency, that's the some advantage of bitcoin.
Benefit 1: Decentralized / shared control
This benefit comes in three forms.
First, blockchains allow enemies to work together for a common benefit. It makes blockchains a political tool. Examples include: R3 for banks, or Open Music Initiative for the music labels.
More generally, blockchains can reduce friction in forming consortiums, because the entities involved do not have to give control of the infrastructure to some single entity. So for some contexts, a blockchain is a “consortium database.”
Second, when the network is decentralized and sufficiently open and for anyone to use, then it becomes a new public utility, like electricity, the internet, or the Web. Examples include Bitcoin as an e-money or e-gold utility, Ethereum as a decentralized processing utility, IPFS as a decentralized file system utility, or IPDB as a decentralized database utility.
Third, interoperability protocols can further reduce friction, especially for public networks. If networks interoperate, then which network you’re using matters less. You aren’t necessarily stuck with your initial choice of network. The internet is a network of networks; do you care which sub-network you’re in? Two key protocols are:
Interledger. It connects two networks, even if those networks speak a different language. You can think of it like a well-defined protocol for an exchange. Or, like a router for the internet, but instead of handling just data, it also handles assets. How: escrow in the forward direction from source to target, then release funds backwards. That’s basically it. But it enables easy connection between Bitcoin, Ethereum, SWIFT, BigchainDB, and more.
IPLD (Interplanetary Linked Data). This allows data blobs to flow through the walls of one network to another. It makes the networks permeable. How: an opinionated way to hash the structured data format JSON. That’s basically it. But it means you can initially store your JSON data on, say, IPFS, but know that it can also flow to IPDB or whatever network supports IPLD.
Benefit 2: Immutability / audit trail
When you write data to a blockchain, it’s like etching the data into stone. This could can be used for education credentials (like Recruit), land registries (like BenBen), and more.
If you have a series of transactions over time, you gain an immutable audit trail, which is useful for financial audits, art provenance (like ascribe), food history (like Provenance), and more.
Benefit 3: Assets / exchanges
Once you have a data store that no single entity owns or controls (i.e. decentralized), and no one can change what’s already written (i.e. immutable), then it unlocks the possibility for assets themselves to live on the data store. Put another way: it gives benefits similar to double-entry bookkeeping (less chance of errors, etc.) but much easier to apply.
