Blockchain fraud? Right or wrong?

Blockchain fraud? Many people misunderstand about Blockchain and because many scams happen, many people think that the system serves scams?


Blockchain fraud? So what is the truth?


Clarify the problem. Blockchain is a technology platform. It is merely a tool that helps motivate a transaction because of its verification mechanism. When using the Blockchain platform, all transaction information cannot be interfered with by a 3rd party. All transactions cannot be reversed, so there is no case of errors and refunds.



Many people confuse Blockchain history with scams, especially when it comes to Bitcoin cryptocurrency. In fact, the scam happens when you allow it to happen. Put simply, you agree to give money to a party you don’t know or just know about the person. After you give the person money, they disappear and the Blockchain system. In particular, the use of anonymized Bitcoin to transact. That’s why it’s hard to track down the person who tricked you.


Blockchain applications in the fields


In fact, this technology excels because of its immutability. And when a transaction or information is given, its history is saved on the system forever. Applied in the financial sector, it will ensure whether the sender has enough money to transfer or not, to avoid overlapping transactions with the same amount used twice.


Marketing field




The application of this technology will measure customer behavior – behavior. Based on information that customers provide and allow access. From that, creating portrait of potential customers, minimizing unnecessary expenses. Or when hiring platforms to advertise. Advertisers can accurately measure user interaction data with each ad template.


Medical field


Blockchain eliminates the disadvantage of data errors when patients move to other hospitals. The pathological data may be difficult to retrieve. Using the Blockchain platform will help patients store their records through which doctors can more accurately diagnose.


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Field of storage


This is something that will change the whole world. With information that is transparent and not editable. Therefore abnormal behavior will be detected and traced. At the same time, the information cannot be faked, so it will prevent fraud.


Blockchain fraud


Commercial field


Blockchain fraud? No, the use of Blockchain technology will combat commercial fraud. Also prevent fake information. Especially with a big market like real estate. The platform will be very useful because it creates transparency in transactions. Typically, the application of Blockchain platform to an application called Ecopoint is available.


Ecopoint application


This application was created by Ecoworld Corporation to serve in creating a shared real estate market. On this application will display the location of the property, prices, owners, transaction history. Thereby users can make faster and more accurate decisions.


So the question above: Blockchain fraud? Right or wrong? Technology is not wrong. And Blockchain is just a tool to use and promote the creation of a transparent world of information for users.


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