all network participants share the same documentation as opposed to individual copies. That shared version can only be updated through consensus, which means everyone must agree on it
information is stored across a network of computers instead of on a single server, makes it very difficult for hackers to compromise the transaction data.
When exchanges of goods are recorded on a blockchain, you end up with an audit trail that shows where an asset came from and every stop it made on its journey.
Increased efficiency and speed:
when everyone has access to the same information, it becomes easier to trust each other without the need for numerous intermediaries. Thus, clearing and settlement can occur much quicker.
you don’t need as many third parties or middlemen to make guarantees because it doesn’t matter if you can trust your trading partner which reduces costs