Blockchain technology could have the potential to be one of the next technological breakthroughs.

I'm a novice who has been reading extensively about newer blockchain technology especially with this article about the Klaytn Blockchain. Below is my understanding, and I'd like to hear more from the community. So, let me begin.

I listened to a lot of podcasts and read a lot of blogs about newer blockchain tech, and I kept hearing statements that this time of blockchain technology is similar to the internet technology boom of the 1990s and that things are going to change quickly. These sentiments were upbeat, and after reading more, they appear to be promising.

The technology may be used to create totally decentralized apps and self-contained organizations of various types. It has the ability to not only improve but also to completely replace existing governance and commerce systems. We are merely at the beginning of the development and integration of this technology into society.

Blockchain also eliminates the requirement for third-party trust, which is a game-changer. Blockchain technology is completely transparent and accountable. Money laundering and tax evasion might be eliminated as a result of this. To enforce rules, you can maintain track of company activity. You may generate a government ID without having to wait for it to come in the mail.

Well, what do you all think?