Change is never easy. Old habits are hard to break and old systems have already been perfected to their highest potential — then some new technology comes along and throws everything into discord. But such is the nature of progress, and the implementation of Blockchain in prediction markets is well worth the small investment of time and energy to make a break from the past. Many companies can already attest to this fact, as they see the benefits of Blockchain first-hand. Let’s take a look at just 4 reasons Blockchain trumps everything that came before.

Transparency — All sides in prediction markets are set to gain from the level of transparency Blockchain is enabling. This is done through Blockchain’s iconic smart contracts. These contracts aren’t held by one source but decentralized and stored on a countless number of servers. Without any one authority maintaining exclusive rights to the information on such contracts and transactions, as there has always been until now, they are available for all to see and have a direct influence on the reliability, accuracy and fairness of prediction markets.

Mobility — Blockchain supports increased financial mobility between platforms, allowing for quick, easy and cheap transfers and transactions, which keeps providers on a more even footing with investors. In fact, companies like myEdge are taking advantage of the full potential of Blockchain by offering investors a platform that shows all the best deals on offer across providers. The company adds to its value by providing users one cryptocurrency that can be easily and safely exchanged to take advantage the best deals from multiple providers. And cryptocurrencies also allow for easier and safer cross-border transactions, making currency exchanges and payouts cheaper and making regulation and enforcement more viable across jurisdictions.

Bankless — Say goodbye to the bureaucracy of banking. Because Blockchain is decentralized, the usual third parties that oversee and approve transactions are obsolete. The implications for prediction markets is hard to understate. As a self-checking, fool-proof way of managing transactions, Blockchain means that you won’t have to deal with the usual questions and requirements of banks or the delays in transactions waiting for their approval. Blockchain oversees it all, and it does so better than banks ever could.

Security — Think excluding banks from the process might make prediction markets less secure? Think again. Blockchain spreads information out across a countless number of servers, all of which know how to recognize bad behavior and block it. Information is made transparent, visible to all, and is nearly impossible to tamper with. This makes your transactions final and your funds infinitely more secure.

Change may not come easy, but progress demands it. And when progress is this promising, change is an opportunity to be a pioneer and get excited about the future.