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Public blockchains, such as Bitcoin and Ethereum, are open to anyone and allow for transparent participation. Private blockchains restrict access to a specific group of participants, making them suitable for enterprise use cases. Consortium blockchains are governed by a group of organizations, allowing for shared control and collaboration. Blockchain has the potential to facilitate cross-border transactions, reducing friction and improving financial inclusion. The concept of a decentralized autonomous organization (DAO) is enabled by blockchain, allowing for the creation of self-governing entities. Blockchain technology can be used for voting systems, ensuring transparency, immutability, and security.

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