Blockchain is often associated with bitcoin and the financial services industry. however, it is applicable to almost every industry. the term multi-party systems better describes how the blockchain system is used. what is a benefit of a multi-party system?


Question: Blockchain is often associated with bitcoin and the financial services industry. however, it is applicable to almost every industry. the term multi-party systems better describes how the blockchain system is used. what is a benefit of a multi-party system?

Blockchain is often associated with bitcoin and the financial services industry. The use of a blockchain enables bitcoin to function as a decentralized system that does not require a neutral central entity to confirm and process transactions. Blockchain facilitates trust in multi party systems by providing transparency decentralised control and immutable transaction history to improve security and accountability between parties.

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