Changes to public blockchains are publicly viewable by all parties creating transparency, and all transactions are immutable, meaning they cannot be altered or deleted or recovered.
By eliminating third party intermediaries and overhead costs for exchanging assets, blockchains have the potential to greatly reduce transaction fees.
Interbank transactions can potentially take days for clearing and final settlement, especially outside of working hours. Blockchain transactions can reduce transaction times to minutes and are processed 24/7
All transactions being added to a single public ledger, any wallet addresses is random characters that cannot intrinsically be associated with a specific individual. This enables a high degree of privacy when required.
Blockchain is maintained by a large network of participants, no one actor can easily gain enough influence to submit a fraudulent transaction or successfully alter recorded data. Users can trust that transactions will be executed as the protocol commands removing the need for a trusted third party.
Blockchain data is complete, consistent, timely, accurate, and widely available.
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WHITE PAPER http://theblock-bank.com/pdf/blockbank_whitepaper.pdf
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