Blockchain and trust

[Smeilz2017]

How can blockchain reduce business risks and increase trust

With blockchain smart contract, a company can experience much more transparency in the records of money transaction. With that it can increase the trust of the company as well for the investors because they can just search the address and they will see complete transaction made by that address.

Hi,  I think, the smart contract would also have to be backed by a legally verified document in the real world, the title, that would update to relinquish ownership of the vehicle. Thus, it legally registers the buyer on the blockchain as the new owner of the vehicle.

[poli.isk]

blockchain can definitely boost confidence. the question is that they will keep all their promises. you can intelligently and well to paint everything and then just to deceive everyone.

[marinomario]

you can see how the speed system for transacting is great. speed system is the icon or the benefits of blockchain. you can feel when you send a coin, and you will receive the coin with just a matter of minutes with a very large number of coins. not only that, you can also track a transaction whether the transaction is up or not yet. here all are transparent and efficient. in the presence of blockchain, sending money does not require permission or approval from the government or the bank. because blockchain is not tied to them, so you can transact anytime and anywhere.

[sandraonas]

One of the main advantages of the blockchain is in the creation of a trustless ecosystem that is automated.Everything is placed on a public ledger and can be verified by each party involved.So YES, the blockchain creates the foundation of trust for businesses.

[kufan]

The only financial system that is built on trust and I think that largely because of this it is popular

[batang_bitcoin]

How can blockchain reduce business risks and increase trust

Business risks are given but what's good with blockchain you might love to read these;

https://www.businessnewsdaily.com/10414-blockchain-business-uses.html

https://execed.economist.com/blog/industry-trends/5-applications-blockchain-your-business

[mirgo1791]

as proofs of appeals has with the chance on option with users to work on decision as expending risks on exchange, and moves on focus with works on objectives as examining use with returns of following release of reference as helps with decision on closing to gains with the numbers of returns to collects with the finest on spares exchange as following use of beginning preset of strategy with the chance of attains with the timelines.

[el kaka22]

As i know blockchain technology offer transparancy and fair system, because this technology avoid  third party so every transaction only make between sender and receiver.

Since it is more of a ledger with everything online, then every investor can easily get to do their own auditing, ask any questions and that apparently leads to high level of transparency and with that available, it makes the whole idea of investing in a project to come with some level of trust as long as you are confident you are leaving your funds in the hands of those who will work hard to make it work.

That of course, brings about lesser risk, which is more like the more the trust, the less you worry about risk, even though all businesses still come with risks one way or the other.

[darewaller]

How can blockchain reduce business risks and increase trust

Everything is absolutely going to ball down on transparency since that is actually what the idea of blockchain brings anyway and as long as there is accountability and transparency, then there is going to be trust. With trusts, we end up seeing more investors in the arena, as people tend to assume there would be less risk in their investment even though no one can foresee the future of any. Blockchain is just a new method of distributed data maintaining method which completely eliminates the chances for an individual to change anything. Based on these facts we can expect more businesses to be build on blockchain technology in coming years.

[deevan]

No doubt Blockchain can benefit business in every sector & increase trust between two parties with transparency without any fraud. For example, if you have a business of selling goods to your clients (resellers) you both can sign a smart contract that once the material is delivered from origin to destination the pay is automatically transferred to you. Indeed for it, you have to opt blockchain for your business & all the movement of goods will be recorded on the blockchain. You don't have to wait for your payment nor your client can deny that they haven't received the goods because everything will be recorded on blockchain which is immune to fraud.

[sourish]

Apart from trust, transparency, blockchain technology negates any possibility of tampering with data, so no original docs or records can be altered or changed.

[jerry3k5jamiso1]

One of the main advantages of the blockchain is in the creation of a trustless ecosystem that is automated.Everything is placed on a public ledger and can be verified by each party involved.So YES, the blockchain creates the foundation of trust for businesses.

The blockchain technology platform is receiving great attention from many large corporations in the world. In addition to being the foundation of all types of crypto, blockchain technology is being applied in many areas of life to manage safely and securely. I believe blockchain technology will be the future of management technology in the new era.

[chaoscoinz]

The blockchain is a really innovative tool that was well thought out, planned accordingly. Satoshi Nakamoto, whether it be a pseudonym for a single guy, or an entire team collaboration, it was a real game changer. The blockchain is a decentralized publicly transparent ledger. If Bitcoin is a platform, then blockchain is a foundation.
   The whole point of the blockchain being decentralized and public, means it was conceived on the notion of trust, from peer to peer. It is an entire ecosystem, and to top it all off, the entire project was open sourced.
If that isn't the definition  of trust, then I don't know what is!

[TheFirstCreator]

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.

[djgtr]

The blockchain is a really innovative tool that was well thought out, planned accordingly. Satoshi Nakamoto, whether it be a pseudonym for a single guy, or an entire team collaboration, it was a real game changer. The blockchain is a decentralized publicly transparent ledger. If Bitcoin is a platform, then blockchain is a foundation.
   The whole point of the blockchain being decentralized and public, means it was conceived on the notion of trust, from peer to peer. It is an entire ecosystem, and to top it all off, the entire project was open sourced.
If that isn't the definition  of trust, then I don't know what is!

Blochain is a unique instrument where you can have free will to partake itself to people who are mindful in crypto currency particularly in bitcoin and altcoin. If the trust is what it is meant in the statement above says the literal meaning of it then yes,I also trust blockchain as it is part of the crypto to be trusted. But if the meaning turns different with blockchain and trust so I guess others can add what's on their mind.

[Zadicar]

The blockchain is a really innovative tool that was well thought out, planned accordingly. Satoshi Nakamoto, whether it be a pseudonym for a single guy, or an entire team collaboration, it was a real game changer. The blockchain is a decentralized publicly transparent ledger. If Bitcoin is a platform, then blockchain is a foundation.
   The whole point of the blockchain being decentralized and public, means it was conceived on the notion of trust, from peer to peer. It is an entire ecosystem, and to top it all off, the entire project was open sourced.
If that isn't the definition  of trust, then I don't know what is!

I don't think satoshi is projecting this kind of idea on where it would be applied into businesses or any other means or benefits yet he do only focused on p2p way of payment system but now blockchain technology do really have further more benefits which can really be applied into sorts of businesses and sectors on a certain country which will cause faster accessibility and transparency which is really good.

[awazieik]

How can blockchain reduce business risks and increase trust

This will be done by smart contracts . Just imagine being able to see all transactions that have taken place in the blockchain and removing unnecessary intermediaries. I believe that it will reduce business risk because the great thing about this technology is that, we are seeing use cases where security can be achieved on the blockchain

[jabura]

trust is actually and will be the biggest issue of crypto projects. many projects are doing solid work do build security and trusts, but others do not pay attention to this. to survive the future, it is essential that alts in general get more trust from investors. and they will do so with delivering solid, secure, work.

[cryptonx]

How can blockchain reduce business risks and increase trust

with blockchain all transactions will have transparency, everyone can see the data on public ledger 
so, i believe this will increase the trust on any business model mate

[Noobaru]

One word. Smart contracts. They have so many applications and that is why ETH blockchain is so huge. I hope we see many more projects where they will incorporate them. They eliminated the need for intermediaries and therefore lower risks and increase trust. They "enforce" the protocol in which no side can get out of the deal.