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Transparency in Blockchain

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The topic is about Blockchain. Certain people whether hodlers or non-hodlers society always confused about the open-source and transparent data. After looking to the community that make savings or sometimes invest in cryptocurrency and utility token of digital wallet. Transparency in Blockchain is not about we know who the founder is; or who’s behind the products.

It’s all about the transactions, data keeping, and coding flow for fork purpose. Why transparency is not about man behind the product? Because Satoshi Nakamoto remain anonymous until this day but the data from Satoshi’s product can be seen and can be fork anytime and anywhere also mining it anytime and anywhere but don’t steal electricity from TNB for it.

Let’s take a look at the Banking Monetary System. When someone’s saved money in a bank. The central authority which is the bank will lend your money to the debtors who making loan from them without your knowledge and the transaction cannot be seen because of many factors just like physical transaction and central server governed by an authority of the entity/institution. 

With the existent of blockchain with its transparency, you can access your data in a transparent way; from where your asset comes and where your asset goes. In that case, there’s no central authority can lend your money to anyone. That’s for the transparent transactions (transaksi telus). How can central authority silently lend your money when it was in blockchain? You owned your own SEED and Private Key. In the sight of developers, transparency and open-sourced is important for them to build project under project from the code and how to make research on it. Last but not least, I owned Bitcoin but I don’t know who Satoshi is.

vote : surface_official

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