Blockchain truly is a mechanism to bring everyone to the highest degree of accountability. No more missed transactions, human or machine errors, or even an exchange that was not done with the consent of the parties involved. The blockchain network lives in a state of consensus, one that automatically checks in with itself every ten minutes. A kind of self-auditing ecosystem of a digital value, the network reconciles every transaction that happens in ten-minute intervals. Many manipulation problems have been solved by Blockchain as Blockchain’s opportunities are the highest in the countries that haven’t reached that level yet.
Descending to ground level, however, the differences that make blockchain technology unique become more clear. Since the invention of blockchain in 2008, there have been 80,000 blockchain projects launched around the world, and a report from the Chinese government has found only 8% of those are being actively maintained. The 92% that failed lasted an average of 1.2 years before maintenance on the projects ground to a halt.